Rabu, 02 Maret 2011

Gas Supply orioles resigns over Bakrie Group Involvement

Gas Supply orioles resigns over Bakrie Group Involvement

Bakrie group's involvement in the negotiations between Petronas orioles gas field with PT PLN (Persero) makes pullback realization of state-owned gas to the electric sector. PLN estimates that the distribution of gas to PLTGU Tambaklorok retreated into the fourth quarter of 2014, or go back three years from the original plan.



This was conveyed by the Director of Primary Energy PLN (Persero) Nur Pamudji through a press release, which received detikFinance on Wednesday (02/03/2011)

"The involvement of Bakrie group in a transaction between Petronas and PLN causes the decline of the realization of the distribution of gas to PLN, predicted a fourth-quarter 2014 or back 3 years from the original plan. In addition, due to concession in the field orioles Petronas will expire in 2021, then the amount of gas produced decreased to 290 bcf, "he said.

Pamudji said thus PLN estimates that gas prices will likely more than $ 5 per mmbtu, which is caused by the reduced volume of gas in the transaction, the rising costs of development wells due to inflation, and the emergence of the risk of failure of pipeline-gas because the process is not controlled by gas producers .

He said at the end of 2008, the electricity and gas producer that is Petronas Carigali already agreed on the amount of gas to be produced is 354 bcf, with a schedule of gas into the fourth quarter-2011, the price is below U.S. $ 5 per mmbtu to the point of handing over the power Tambaklorok.

Drainage of gas from wells to power made by Petronas. The agreement was submitted to the Government for the approval process of the BP-Migas before it is poured into a contract of sale of gas.

He added that by 2009, concession holders pipe Kalimantan-Java gas (Kalija) that the Bakrie group proposed that the drainage of gas from the well-gas to PLN's power plant is done through what is called Kalija stage-1, which is a piece of subsea pipeline between the gas wells next to Muria peninsula north to power plants in Semarang.

The result Pamudji said, after a discussion which is time consuming, this proposal was approved by the Government in late 2010, and promised that the PLN to PLN are still buying gas at the point of handing over power plant at a price agreed with Petronas.

Supervise completion of gas pipe was switched from BP-Migas to BPH-Migas. PLN is also concerned that the cost of the drainage of gas by pipeline Kalija concessionaires will be higher than the cost calculations made by the producer gas.

He said the cost of financing the construction of gas pipelines that are not integrated with gas wells can be sure will be more expensive than if the pipe is built integrated with gas wells. Ultimately has to bear all of this cost increase is PLN, and in turn will raise the electricity subsidy.

"PLN hope that this case orioles gas into a valuable lesson for all stake holders electricity. PLN want the Government to outline the transactions directly between PLN with gas producers, without involving third parties," he said.

He said if the BP-Migas want for gas pipeline construction costs are not included in the cost recovery component, could have cost borne by PLN in the form of installment payments per mmbtu to gas producers, but should build a gas pipeline is still being done by the gas producers in one control management with the development of gas wells so that the cost of financing the pipeline is minimal.

At present, he added that the company had managed to agree on some new transactions with other gas producers, and awaiting approval from the Government. PLN worry, there are third parties who attempt to submit a proposal to the Government to get involved in new transactions, and orioles court case could happen again.

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