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Inpex, Indonesian govt sign Abadi LNG development agreement

Japan’s Inpex Corp and the Indonesian government said on Sunday they have signed a basic agreement on development of Indonesia’s Abadi liquefied natural gas (LNG) project.

Inpex President Takayuki Ueda said the Japanese company, which owns 65 percent stake in the project, said they plan to submit a Plan of Development (POD) for the project within several weeks to local authorities and aim to make a final investment decision within 2-3 years.

The signing ceremony took place on the sideline of a meeting of G20 energy and environment ministers being held this weekend in Karuizawa which Indonesia’s Energy and Mineral Resources Minister Ignasius Jonan is attending.

Reporting by Yuka Obayashi; Editing by Michael Perry, REUTERS

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