Exports of natural gas tends to decrease
Most of Indonesia’s natural gas production was thrown into the export market and the rest for domestic needs. Indonesia over the gas exports are to Singapore, Japan, China, Korea, Thailand and Malaysia. Exports are mostly done in the form of LNG via ship, while the rest through the transmission pipelines.
During this time, the portion for exports is greater than the volume for the domestic market. Accumulated in the gas sale and purchase contracts from 2003 to 2007, reaching 20.12 million domestic allocation MMSCFD to 48 MMSCFD per cent and exports of 21.55 million or 52 percent.
Since the year 2009 the percentage of exports of natural gas has begun to shrink than ever before. In 2009 the exports of less than 50 percent of which amounted to 46.08 percent of the total production volume reached 3667 MMSCFD.
Export gas in LNG form tends to fall from year to year, while exports via pipeline are likely to increase. In 2007, LNG exports fell by 8.5 percent to 1,076,785 MMSCFD. The decline also occurred in 2008 but smaller in the amount of 0.8 percent to 1,067,796 MMSCFD.
In 2009, until October was recorded at 841 911 MMSCFD LNG exports. If the calculated average of the monthly export volume of 84 191 MMSCFD is smaller than the previous year to reach 88 983 MMSCFD.
Meanwhile, the export volume of gas through the pipeline emmiliki rising trend. Exports of gas through transmission pipelines Grissik – Singapore.
The export volume of natural gas through pipelines fluctuated in recent years but showed a rising trend. In 2007 the export volume reached 297 thousand MMSCFD.
In 2008 the export volume decreased 20 percent to 235 thousand MMSCFD. Exports rose sharply in 2009, which until October has reached 291 thousand MMSCFD atu 24.persen higher than the previous year.
In the coming years is expected to export gas volumes will be smaller again as gas reduction commitment to overseas after 2010.
Some of the export sales contract
Gas sales abroad made a long term basis with the contract system. Currently a number of long-term export contracts are still ongoing and several new contracts will also begin shipping in the realization of this year.
Contract gas exports to Singapore between Premier Oil Natuna BV with Sembgas in Singapore in 2008 for 18 years where the deliveries will begin in 2010. Piped gas exports belongs to Conoco Philips.
New export contracts in 2009 include the sale of the remaining contract capacity of 125 thousand tons from Tangguh field in Papua. A volume of 125,000 tons per year is part of the remaining 200,000 tonnes per year capacity LNG Tangguh unsold. This sale will be conducted by Pertamina with buyers Tohoku Electric Power Co., Japan.
Natural gas from this field is exported via ship after being processed into LNG at the LNG Tangguh. Of the total refinery capacity reached 7.6 million tons per year, 7.4 million tons of which were sold to several buyers, including Sempra Energy Marketing Co. of 3.7 million tons per year, Fujian 2.6 million tonnes per year , as well as Posco and K-Power 1.1 million tons per year.
Some of the export sales contract will be completed in 2010 which is a contract export LNG to western buyers from Japan. The contract will expire in western buyers this year as well.
According to government plans to limit new gas export contracts and will transfer the allocation to domestic needs in 2011.
Rising domestic gas needs
Natural gas in the domestic market used for various purposes such as raw material in industries such as petrochemicals and fertilizers; as fuel in industries such as ceramics, textiles, and household; as a source of electricity generation in power plant, as well as an energy source in the oil and gas production that is for artificial lifting, lifting components of petroleum production. Gas needs in question is contracted needs plus the needs that gets commitment.
Average annual domestic demand in 2009 to 2010 was 5557.6 MMSCFD. Central Sumatra, Southern and Western Java (Region III) is a region with the greatest need with the average demand per year from 2009 to 2014 amounting to 2994.7 MMSCFD.
The need for fuel, among others, are absorbed by PGN Batam, Pekanbaru PGN and PGN West Java, in addition to absorbed Refinery LPG as belonging to PT Ogspiras Basya Primary in Kilkenny and PT. Sampurna bead Prabumulih. Industries that use as fuel is PT. Asahimas in West Java.
The need for electric power generation, among others, are absorbed by the power plant spines, Ox Bay power plant, PLTGU Asrigita Infrastructure, PLTG Gutters Hamlet, PLTG Energy Musi Makmur, Injiniring PLN, PLN Kramasan, Borang PLN, PLN Muara Karang, Tanjung Priok PLN, PLN Freshwater Estuary, and PLN Cilegon.
Oil and gas producer, PT. Chevron Pacific Indonesia most needs to absorb the gas as an energy in this region in addition to the Joint Operation Body (JOB) Suryaraya Example.
Meanwhile, gas demand for industrial raw materials on pupupk came from Srivijaya Fertilizer factories I to IV in Palembang, Pupuk Kujang in West Java.
Eastern Java Region (Region V) be the second biggest needs with an average of 843.8 MMSCFD per year which is dominated by pengggunaan for electricity in PLTGU Gresik. Besides electricity, the need also came from the factory-owned Petrochemicals Gresik and PGN as raw materials as fuel.
Domestic demand is not fully guaranteed due to the volume of gas supply is still below the contracted volume needs. Part of this need to get a new supply commitments from producers.
Exports of natural gas tends to decrease
Implementation in Business Law
In order to clarify the discussion on Top of Economic Analysis of Law, particularly its implementation in the field of business law in Indonesia, then listed below are criticized some actual problems faced by the principle of economic efficiency (economic efficiency). The selection principles of efficiency is based on its simplicity to understand, because it requires no technical formulations of economics or numerical formula. The focus of attention is concerned with the possibility of inefficiency (inefficiency) of the establishment, implementation and enforcement of legislation.
First with regard to the tendency of certain mandatory involvement of the legal profession in fulfilling the terms and procedures of legislation. This is for example seen in Section 5 of Act No.. 42 Year 1999 regarding Fiduciary Warranty (UUJF), which requires loading the object made by the Fiduciary Warranty Deed. Sutan Remy Sjahdeini to comment on the article by saying there is no clear reasons should be made objects of loading with Fiduciary Warranty be notarized, given in previous practices, the agreement made with sufficient fiduciary deed When the requirement is associated with subsequent obligation of registration Registration Office Fiduciary, of course, also still questionable usefulness loading objects with a notarized Fiduciary Warranty is compared with the under hand loading. Economically be notarized loading the debtors would be very burdensome, especially for entrepreneurs weak debtors. Even happen in practice today, although the cost of making the deed has been set by government regulation, but because there is no alternative but to use the services of a notary who permit the practice in the areas concerned, the notary can be arbitrarily to determine the cost of making the deed .
Previously under Article 10 paragraph (2) of Act No.. 4 of 1996 on Mortgage on Land and Its Objects-Related Land (UUHT) also established that giving is done by making Mortgage Deed Mortgage Imposition (APHT) by Acting Land Deed Makers (PPAT). The reason the application of this provision is that PPAT is a public official authorized to make the deed of transfer of rights over land and other deed in order charging land rights, which form aktanya determined, as does evidence of certain legal actions concerning land located in the area of ??work.
UUHT even this conveyed to the provisions of the same criticisms regarding the imposition of burdensome economically weaker entrepreneurs debtors. Responding to the Regulation of the Minister of State Agrarian / Head of National Land Agency No.. 4 Year 1996 on the Determination of Time Limits Use of Power of Attorney impose Guaranteeing Repayment Mortgage For Specific credits, the government provides the possibility for certain types of credit SKMHT valid until the expiration of validity period of the principal agreement is concerned.
The trend is also visible in the Draft Rural Banking Act (Bill-PP) made by the House, which stipulates that the loan agreement deed drawn up before notaris.xi Therefore there is a cynical outlook on society by mentioning the legislation that contains provisions Such as the result of ‘Notary Connection “.
Criticism of the inefficiency of the notary, as discussed above also override other legal professions, the legal advisor. Article 5 of the Bankruptcy Act, provides that an application relating to bankruptcy proceedings must be filed by a lawyer who has a license to practice (in this permits the practice of bankruptcy lawyers). Application shall include a declaration of bankruptcy petition, the petition sequestration and the appointment of curators, the petition of Appeals, filing Memory Cassation, judicial review application, the application for temporary suspension, removal of suspension and changes in the terms of the suspension, cancellation demands of peace, as well as rehabilitation in the areas of bankruptcy petition . Reasons mandatory use of licensed attorneys who practice it, does it make sense when linked to the short time required in the event of bankruptcy and the need for specialization and professionalitas bankruptcy lawyer. But viewed from the perspective of the restriction to a specific community to participate in the test kepengacaraan, such as internal corporate lawyer among SOEs, it is economical for the state-owned enterprises, Article 5 of the Bankruptcy Act would be very burdensome. This happens because he considered state employees as civil servants, so it is not allowed to take part in the test kepengacaraan. Yet when the state allowed an internal corporate lawyers bankruptcy lawyers have the certificate, then the bankruptcy proceedings do not need to be represented by the external high-cost corporate lawyer.
In recent years, the need for natural gas or natural gas is increasing as more and extent of use of natural gas energy sources is good for the industry and for households and industry as a raw material mainly for fertilizer industry.
Consumption of natural gas as the final energy is the third largest after oil and coal, higher than the electricity and LPG. Percentage (share) of natural gas consumption reached 13.7 percent in 2008.
Some issues related to the natural gas industry in addition to production is the supply for domestic needs is limited. Due to the limited supply of gas then the continuity of the development of fertilizer industry has been plagued because there is no guarantee of gas supply.
Price formation is not fully use the principles in the domestic market make the most of production is sold to overseas markets. This condition makes the certainty of supply for the domestic industry requirement has not been stable.
The government tried to address this with the policy Domestic Market Obligation (DMO) and prioritize the allocation of gas from new fields namely Field Donggi – Senoro for domestic needs.
With growing pressure at home to the maximum extent possible Utilizing the natural gas for domestic needs, the various new policies have been issued regarding the utilization of natural gas. Some new regulations in this sector are expected to affect the natural gas business in Indonesia, especially regarding the transmission of natural gas including natural gas transfer point of handing over to Singapore from the Singapore plant gate to the well head in Indonesia that affect the process of calculating the cost and selling price of natural gas.
Composition of gas
Natural gas is made of hydrocarbon gases with the main component methane (C1). Natural gas can be found under layers of earth, often in conjunction with oil reserves.
On arriving at the surface, the gas is separated from oil or water that may exist in the deposit. This process of purifying the gas by removing other existing gas such as propane and butane, and water content.
Different gas LPG (Liquefied Petroleum Gas) in terms of its elements. LPG is mainly made up of Propane (C3). LPG is distributed through the vessel, while natural gas through pipelines.
The energy generated by natural gas is measured by calories. Energy content is not uniform because the results from several different gas wells. Calories natural gas in Indonesia lowest is 5991 Kcal / m 3 while the highest reaching 11 127 kcal / m 3.
Natural gas is distributed in the area of ??Jakarta, Karachi, Jakarta, Jakarta has the calories of 7703-11127 kcal / m3, while natural gas is distributed in the region Cirebon have the lowest calories 5991 kcal / m 3.
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European debt crisis has lasted for more than a year. Or its existence may be much longer if traced since the beginning of systemic disorders in various countries. So much controversy in the Greek crisis resolution plan. Also rife tug action statements by parties who feel they have the interests of the monetary system of the region.
Not a few investors are confused by the agenda of the completion of the crisis, let alone the dynamics continues to grow every day. There may be many questions that fill the minds of market participants about the current situation. But the correlation is difficult to sort one by one as it pertains to the European regulation, the interests of political and historical factors between countries.
Why Greece needs a bailout?
Greece already heavily in debt issues in recent years. But the veil of state finances is only slowly revealed two years ago. From there it even clear that the level of debt continues to swell over time. Since adopting the use of the euro currency, enterprising government debt for purposes of state spending. Residents spending levels also soared so salaries should be increased, even doubled in one decade alone.
The government should reach the pockets to meet the changing trend of spending it. But unfortunately, not matched by the amount of tax revenue. Lack of discipline and enforcement of tax laws make the state losses of up to $ 20.5 billion per year. not include the state income tax and the value of the corrupted elements of government and state enterprises. These factors make the Greek financial resilience to the financial crisis so very fragile.
In 2010, Greece received bailout money (bailout) from the highest institutions of Europe for 110 billion euros. Liquidity as much as it is a conditional loan. Athens Government shall conduct a large-scale efficiency so that revenues can be saved to pay the loan repayment burden.
Why does Greece need a bailout to-two?
Greece has received a bailout in May 2010. However, the amount of 110 billion euros is not enough to pay off the entire national debt. Application for the second proposed bailout for Greece will not be able to borrow funds from commercial financial markets. Therefore, the International Monetary Fund (IMF) and the European Union (EU) took over the handling of debt problems. Its main purpose is to ensure that Greece has enough liquidity in the economic recovery efforts that have been damaged. Slowly, the improving economic levels will impact on the Greek bond interest in the commercial market. That way, then Athens could borrow money to market at a cost that is not too big return.
Investors cautious ahead of the meeting predicted Europe will describe a plan to solve the debt crisis of the euro-zone. Euro steady above $ 1.39, European stock markets has not changed much, and the bond market is also fairly quiet. However, market optimism began to decrease with the emergence of differences in perception between European leaders over how best to fight the crisis. Citi even uttered a meeting like a numbers game, but without the numbers.
There is a consensus of the need for additional capital injection of around € 110 billion into the banking system of Europe in order to anticipate the possibility of Greece’s debt default and contagion of the crisis. But there is a difference will be how to increase the capacity of EFSF funds and how many losses will be borne by the holders of Greek bonds.
“Europe may not be able to give satisfactory results despite the desire to immediately solve the debt problem,” said Lothar Mentel, Octopus Investments executives, as he uttered the market will react badly if Europe does not provide a comprehensive plan. The movement of EUR / USD which is still located near six-week high level of $ 1.3960 suggests investors still expect the results of the European meeting will be positive.