Indonesia's PGN Eyeing Gas Blocks in the Region

Indonesia’s state owned gas distributer Perusahaan Gas Negara has plans to invest $540 million this year in various gas blocks to ensure domestic supplies.

Jakarta Globe reported that the company was looking at gas blocks in Indonesia and elsewhere in South East Asia.

President Director Hendi Prio Santoso said PGN aims to secure an additional 300 million to 350 million standard cubic feet per day (mmscfd) in gas this year.

So far, the company has managed to secure just 85 mmscfd, the newspaper quoted him as saying. 

The company also plans to build a floating storage and regasification unit in Lampung in 2014 which is forecast to produce 170,000 cubic feet of gas per day.