The Indonesian government plans to use gas that will be produced by the Masela block in Maluku to support the local petrochemical industry instead of shipping it overseas in the form of liquefied natural gas ( LNG ), as per The Jakarta Post. The gas-rich Masela block, which will be developed under an onshore scheme, is estimated to be able to produce 1,200 mln standard cubic feet per day ( mmscfd ) of gas and 24,000 bpd of condensate for 24 years, based on figures from the Energy and Mineral Resources Ministry.
The ministry has calculated that if the LNG is sold at US$7.2 per ml British Thermal Units ( mmbtu ), it would generate returns of around US$2.52 bln pa. However, if only 700 mmcfd of gas is converted to LNG, while the remaining 500 mmcfd of natural gas is sold to both upstream and downstream petrochemical industries, it would generate returns of US$6.5 bln pa.
13-May-16 
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