Sembawang fixes RI gas deal

Sembawang fixes RI gas deal

SINGAPORE (Dow Jones): There has been a breakthrough in a bid by a Singapore consortium led by diversified conglomerate Sembawang Corp. to buy Indonesian gas for power stations and petrochemical industries in Singapore, under a multibillion dollar deal, a local daily reported yesterday.

The details of three separate agreements have been fixed with Indonesia's Pertamina and foreign oil companies developing the West Natuna gas fields, the Business Times said.

The agreements cover gas sales, pipeline transportation and end-users, it said.

Formal agreements are set to be signed in about two months, the daily cited unidentified sources as saying.

The package is potentially worth several billions of dollars, it said.