S. Korea to import more LNG from RI
S. Korea to import more LNG from RI
JAKARTA (JP): South Korea will import more liquefied natural
gas (LNG) from Indonesia and further promote energy cooperation
between the two countries, a visiting South Korean minister said
yesterday.
South Korea's Trade, Industry and Energy Minister Lim Chang-
yeul said it was cheaper to transport LNG from Indonesia because
it was closer than other LNG producing countries.
After meeting President Soeharto, Lim said there was great
potential for more energy cooperation between the two countries.
"We can make joint investments or increase imports from
Indonesia," said Lim, who was accompanied at the meeting by
Minister of Mines and Energy I.B. Sudjana and the ministry's
director general of oil and gas, Supraptono Suleman.
The Korean minister is here to attend the 17th meeting of the
two countries' joint committee for mineral resources and energy
cooperation. The meeting, which began yesterday, will end
Thursday.
Lim said that demand for energy in Korea would increase
sharply. "LNG is one area in which we will increase our imports."
He predicted that South Korea's demand for LNG would jump to
18.2 million tons by the year 2000, up 51 percent from 12.1
million tons this year and up more than 90 percent from 9.56
million tons last year.
According to the state-owned Korea Gas Corp, South Korea's LNG
imports are expected to rise to 20.7 million tons in the year
2001, up from 9.5 million tons last year.
The corporation said that, by the year 2000, South Korea would
import 5.3 million tons of LNG from Indonesia.
Lim said that both governments had expressed a willingness to
boost energy cooperation.
He said that his country was very keen to increase investment
in Indonesia, including in labor-intensive industries.
"Indonesia's national car project will become very successful
in the near future," he said.
PT Timor Putra Nasional, which is controlled by President
Soeharto's youngest son Hutama (Tommy) Mandala Putra, is working
with KIA Motors of South Korea to produce national cars, under
the Timor brand.
He said that to win on the world market South Korean
industries were still trying to minimize costs and improve
environmental protection. (bnt)