Samchully Co., a South Korean supplier of city gas, said Thursday that its coal unit, Samtan Co., will buy a 34 percent stake in E-Pertagas, a liquefied petroleum gas (LPG) producer in Indonesia.
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Indonesia's president said he would seek compensation from PTTEP Australasia for fishermen in his country whose livelihoods were affected by last year's Montara oil and gas spill.
"We have to do our duty by demanding claims to the company responsible for the oil spill," Yudhoyono said in his opening speech Thursday at a Cabinet plenary session.
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Indonesia will seek to sell its surplus of 60 cargoes or around 3.3 million tones of liquefied natural gas (LNG) to buyers in Asia.
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Kangean Energi Indonesia signed a contract Friday to lease a floating production unit from a consortium of three companies to facilitate gas production at the Terang, Sirasun and Batur (TSB) gas fields in offshore East Java.
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The rapid economic growth of the currently developed nations during the last half of the 20th century was attributed notably to the availability of cheap energy, contributed mainly by fossil fuels, especially petroleum. The challenge for developing countries nowadays is that the luxury of having plenty of cheap oil is no longer the case.
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