SingPower, Pertamina's deal

SingPower, Pertamina's deal

SINGAPORE (Dow Jones): Singapore Power has finalized a letter
of agreement to buy Sumatra natural gas from Indonesia's state-
run Pertamina and intends to sign a deal next week, Singapore
Power officials said Thursday.

Indonesian officials told the media last week that the highly
contentious natural gas deal would be signed by the end of the
month.

Singapore Power will reportedly buy US$7 billion worth of
natural gas from the Asamera fields in southern Sumatra from
Pertamina for 20 years beginning in 2002. Singapore Power
wouldn't confirm any of the details of the agreement Thursday.
Pertamina officials couldn't be reached for comment.

The Asamera fields are operated by Gulf Indonesia Resources
Ltd.