NuEnergy Advances with Indonesia Gas Sales Agreement

NuEnergy Gas Limited (AU:NGY) has released an update.

NuEnergy Gas Limited has signed a Heads of Agreement for gas sales with Indonesia’s state-owned PT Perusahaan Gas Negara, marking a significant step in the commercialization of its coal bed methane production in South Sumatra. The company, holding a 45% interest in the Tanjung Enim project, is concurrently seeking gas allocation and price determination from the Indonesian government agency SKK Migas, with plans to cater to the high volume demands of PGN’s extensive customer network in the South Sumatera and West Java Regions.

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