MOSCOW (MRC) -- Indonesia's state-controlled gas company Perusahaan Gas Negara on Thursday said it would supply natural gas to a petrochemical plant operated by a unit of South Korea's Lotte Chemical Corp, saie Reuters .
PGN signed a gas sales agreement with Lotte Chemical Indonesia (LCI) to supply between 2.62 billion and 10.5 billion British thermal units per day (BBTUD) to power Lotte's plant to produce ethylene, PGN said.
"PGN will build MRS gas distribution infrastructure and gas pipelines to LCI's boiler for gas starting June 2024," PGN official Sonny Rahmawan Abdi said in a statement.
Lotte Chemical last year said it was building a USD3.9-B petrochemical complex in Indonesia's Banten province to annually produce 1 million tons of ethylene, 520,000 tons of propylene, 250,000 tons of polypropylene, as well as downstream products.
We remind, PT Chandra Asri Petrochemical Tbk (Chandra Asri; Jakarta, Indonesia) and Indonesia Investment Authority (INA), Indonesia’s sovereign wealth fund, have signed a Memorandum of Understanding (MoU) to collaboratively develop a world-scale chlor-alkali plant in Indonesia.