By OGJ editors
HOUSTON, Aug. 29 -- Marathon Oil Corp. subsidiary GNBC VENTAS S de RL de CV (GNBC), on behalf of its Tijuana Regional Energy Center partners—Grupo GGS SA de CV and Bermuda-based Golar LNG Ltd.—has signed a memorandum of understanding with Pertamina and PT Exspan Tomori Sulawesi for long-term LNG supplies from Indonesia.
Under terms of the MOU, the two companies would supply as much as 6 million tonnes/year of LNG for 20 years from a new LNG plant to be constructed on Sulawesi Island, Indonesia. It would be delivered to the GNBC partners' proposed Tijuana Regional Energy Center being developed in Baja California, Mex. (OGJ Online, May 12, 2003).
"The Matindok and Senoro blocks in Eastern Sulawesi have the potential to provide the resources necessary to form a third LNG center in Indonesia," said John S. Hattenberger, GNBC managing director and senior vice-president of Marathon International Petroleum Ltd.
GNBC and its affiliates currently are proceeding with required regulatory reviews and permits required, and ,assuming timely regulatory approvals and the execution of successful commercial and financing plans, plan to begin construction in 2004 and start up in 2007.
