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Strategies & Market Trends : China Warehouse- More Than Crockery
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To: RealMuLan who wrote (2096)12/18/2003 1:46:39 PM
From: RealMuLan  Read Replies (1) of 6370
 
China to be big investor in Indonesian energy

JAKARTA - China will be a new prominent investor in the oil and gas sectors in Indonesia because of its increasingly effective and efficient technology expertise, Sucipto, chairman of the Indonesian Construction Association (AKI), said on Wednesday.

Sucipto also said China is being viewed as a potential consumer of Indonesia's liquefied natural gas (LNG). "China needs LNG in great quantity but its supply from Indonesia is still small compared to the latter's reserves," he said.

Sucipto said Indonesia has signed new contracts to supply LNG to China and a number of Chinese companies are exploring the possibility of making investments in the oil and gas sectors in Indonesia.

The investment climate will be more competitive if the companies invest in the oil and gas sectors, Sucipto said, adding that Indonesia's dependence on certain countries, which have so far controlled the business and oil and gas fields, would therefore decrease.

The two countries will sign agreements on oil and gas investment during a business forum next Tuesday and Wednesday in Indonesia, where the Chinese government will also hold a technology exposition.

The AKI chairman said Chinese technologies entered Indonesia and competed with Western technologies after the country opened up in the 1980s.

"With the Chinese engineering and technology, Indonesia has chances to choose alternative technology," Sucipto said.

(Asia Pulse/Antara) atimes.com
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