S'pore denies RI gas problem

S'pore denies RI gas problem

SINGAPORE (Dow Jones): Singapore Power Friday denied industry reports that talks on a second Singapore-Indonesia natural gas agreement had stalled over a disagreement on prices.

"Talks are progressing," said Singapore Power spokeswoman Alice Ong. "Nothing is settled yet."

Pertamina Senior Vice President and Director Priyambodo Mulyosudirjo was reported Thursday as saying that Pertamina would have to reconsider the Pertamina-Singapore Power natural gas agreement because Singapore Power wants to buy a smaller volume of gas than originally discussed.

Priyambodo said both state-run Pertamina and Perusahaan Gas Negara, Indonesia's state gas company, would have to raise their gas prices because of the smaller volume, according to industry reports.

Pertamina officials couldn't be reached for comment.

When asked if there was any truth to reports that Singapore Power's PowerGas unit and Pertamina were haggling over prices, Ong said: "We're still in discussions. I guess all discussions include prices."