Reuters: Regulatory News: Indonesia's Pertamina to sell 8 spot LNG cargoes

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Indonesia's Pertamina to sell 8 spot LNG cargoes May 7th 2012, 11:23 JAKARTA | Mon May 7, 2012 7:23am EDT JAKARTA May 7 (Reuters) - Indonesia's state oil and gas company Pertamina is selling eight cargoes of liquefied natural gas on the spot market after its original buyer failed to purchase the gas, an official from the oil and gas regulator said on Monday. "The reason for the sale is most likely a diversion of Sempra cargoes," BPMigas spokesman Gde Pradnyana told Reuters, referring to the US-based Sempra Energy. Sempra and Pertamina were unavailable for comment on the matter. The sale comes amid increasing demand for the commodity from the world's largest LNG importer, Japan, which has relied heavily on gas to fuel its energy needs in the wake of the March 2011 tsunami that disabled its Fukushima nuclear power plant. Indonesia, the world's third-largest LNG exporter, has seen exports fall in recent years as domestic demand increases and supplies decline from its ageing fields.

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