Pertamina’s PGN declares force majeure on LNG supply to Gunvor

PT Perusahaan Gas Negara (PGN), a unit of Indonesia’s Pertamina, has declared force majeure on its liquefied natural gas supply deal with a unit of Geneva-based energy and LNG trader, Gunvor.

PGN revealed this in a filling to the stock exchange on Tuesday saying it had submitted the force majeure notice to Gunvor Singapore on November 3.

“The company’s estimate of the force majeure period is no less than several months of year 2024,” PGN said.

PGN did not provide any additional information.

LNG Prime invited Gunvor to comment on the matter. A Gunvor spokesperson declined to comment.

The two firms entered into the LNG supply deal in June last year.

PGN and Gunvor said in a joint statement at the time they entered into a master sales and purchase agreement (MSPA) and confirmation notice (CN) for the supply of LNG.

The LNG supplies from PGN would complement Gunvor’s LNG portfolio, which is the largest amongst independent trading companies, the statement said.

PGN and Gunvor did not reveal additional details regarding the supply.

This is the first LNG supply deal between the two firms.

In August, Gunvor reported a lower net profit and LNG volumes in the first half of this year, but it did not provide details regarding LNG volumes.

This was also the case with 2020, 2021, and 2022.

According to the company’s website, Gunvor delivered 4 million tonnes in 2016, 7 million tonnes in 2017, 11 million tonnes in 2018, and 16 million tonnes in 2019.

Most Popular

Samsung Heavy bags orders for six LNG carriers

South Korean shipbuilding giant Samsung Heavy Industries has secured contracts worth $1.54 billion to build six liquefied natural gas (LNG) carriers.

Flex eyes LNG carrier order

Norwegian owner Flex LNG is exploring with new and existing partners to join the company in ordering new liquefied natural gas (LNG) carriers, according to interim CEO Marius Foss.

Woodside working to charter vessels to ship Louisiana LNG cargoes, CEO says

Australian LNG player Woodside is currently working through how many chartered liquefied natural gas carriers the company will need to ship cargoes from its Louisiana LNG export terminal in the US, according to CEO Meg O’Neill.

More News Like This

Amigo LNG, Gunvor seal 20-year SPA

Amigo LNG, a unit of LNG Alliance, has signed a 20-year sales and purchase agreement with a unit of Geneva-based trader Gunvor to supply the latter with liquefied natural gas from its planned 7.8 mtpa LNG export plant in Mexico.

Argentina’s Enarsa receives five offers for latest LNG cargo tender

Argentina's state-owned LNG importer Energia Argentina (Enarsa) has received five offers for its fourth LNG cargo tender in 2025.

Mubadala, PGN to evaluate LNG infrastructure for Indonesian gas project

UAE's Mubadala Energy and PT Perusahaan Gas Negara (PGN), a unit of Indonesia’s Pertamina, will conduct a joint study on the utilization of natural gas and the development of gas pipeline and/or LNG infrastructure from the South Andaman block, offshore North Sumatra.

Indonesia’s Bontang LNG terminal ships 10,000th cargo

Pertamina’s Bontang LNG export facility in Indonesia's East Kalimantan has shipped its 10,000th cargo of LNG since 1977.