KUALA LUMPUR Indonesia's State oil and gas company Pertamina is hopeful of signing a 20-year contract with power authorities in neighboring Singapore.
The Jakarta Post quoted Pertamina's Exploration and Production Director, Gatot Wiroyudo as saying that talks on contract terms for the gas from the island of Sumatra were near completion.
He expects the contract to be signed in November this year.
Last year, Singapore's Sembawang Gas signed a similar 22-year contract, to start in 2001, for Indonesian gas from the West Natuna islands in the South China Sea.
The new contract, if signed, would be with Singapore gas, and delivery would be through a $300m underwater pipeline.
Under the proposed terms of the new contract, Pertamina and three of its production sharing contractors would supply 350 million cubic feet of gas per day to Singapore power.
The project is expected to generate a total income of $7 billion for the government throughout the contract.
Indonesia is the world's largest producer of liquefied natural gas.
(IRNA)