INDONESIA TO JACK UP LNG PRICE TO FUND CONSTRUCTION PROGRAM

Indonesia's Pertamina plans to raise the price of its liquefied natural gas in an attempt to cover the cost of building planned LNG plants. OPEC News Agency (Opecna) reported the Jakarta Post newspaper, quoting Pertamina Pres. Faisal Abda'Oe, said the company had explained the reasons for the price increase to buyers. Buyers regard the plan for the LNG price hike as reasonable, Abda'Oe was quoted as saying. Abda'Oe declined to disclose the details of Pertamina's plan.

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