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25

China Not to Cut LNG Imports From Indonesia

"There is no change in either volume or price of the LNG.."

China National Offshore Oil Corp. (CNOOC) has denied it plans to cut liquefied natural gas imports from Indonesia's BP-led Tangguh project for its Fujian terminal, the company's spokesman said Friday.

Indonesia's oil minister said Thursday that the Fujian terminal wanted only 1 million tons of LNG a year in the short term instead of the 2.6 million tons it had agreed to buy.

"Negotiations on the resources contract with Indonesia have basically been completed. The contract will be signed in the near-term, probably very soon," CNOOC's Liu Junshan said.

"There is no change in either volume or price of the LNG," Liu added.