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Indonesia rejects Shell-Inpex floating LNG project, wants to stay onshore

Mar. 23, 2016 11:23 AM ETShell plc (SHEL) StockSHEL, IPXHFBy: Carl Surran, SA News Editor5 Comments
  • Plans by Royal Dutch Shell (RDS.A, RDS.B) and Inpex (OTCPK:IPXHF) to build the world's largest liquefied natural gas plant offshore Indonesia suffer a serious blow, as Pres. Widodo says the project must make use of an onshore refinery instead.
  • Widodo says he backs the onshore plan because it would provide bigger economic payoffs to Indonesia's impoverished east than the 7.5M metric tons/year floating LNG project.
  • Indonesia's energy regulator, however, warned last week that rejecting the $15B plan to process gas from the Masela field offshore would lead to delays and job cuts.

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