Petronas-led consortium has acquired a 40% equity stake in PT Transportasi Gas Indonesia from Indonesia’s state-owned PGN for US$187.6mln.
The purchase price includes a commitment to contribute US$57.6mln in new equity to assist in the financing of the proposed Sumatra to Singapore gas pipeline.
Transgasindo’s principal assets are the existing Grissik-Duri pipeline and the proposed pipeline to transport natural gas from Sumatra to Singapore via Batam, which is being developed by PGN and will be transferred to Transgasindo at a fixed price on completion in 2003.
Transasia Pipeline Co Pte Ltd is a joint-venture company owned by Petronas, ConocoPhilips, Singapore Petroleum and Talisman Energy Inc.
All fears about what the West was trying to make of Ukraine are confirmed, said Russian Foreign Minister Sergei Lavrov.