Pertamina shelves Bojonegara LNG terminal project

Indonesian energy company Pertamina and joint venture partner Bumi Sarana Migas have decided not to proceed with an $800 million LNG terminal project, citing a decline in gas demand that has rendered the development economically unfeasible. The decision can be reversed should demand pick up. The Bojonegara facility was designed by Tokyo Gas Co to produce 4 million tonnes of gas annually and would have been financed by Japan Bank for International Cooperation (JBIC).