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JAKARTA - Indonesia is set to sign a 15-year gas export contract with Singapore, The Jakarta Post reported on Friday.
The two countries are very close to concluding negotiations on the volume and price of the gas.
Under the contract, Indonesia will deliver the gas from the Gajah Baru field in the Natuna waters operated by British-based Premier-Oil to Singapore's Sembawang Corporation.
Indonesia agrees to pump the gas directly through a pipeline to its neighbour.
Should the contract be signed later this month, Indonesia will start exporting in 2011, the daily said, quoting an official with the country's oil and gas regulator BP Migas.
The deal will replace the previous export contract which was terminated because Singapore failed to meet Indonesia's requirements, said BP Migas deputy chairman Eddy Purwanto.
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