Chinese contractor Offshore Oil Engineering Company (COOEC) is understood to have ended its pursuit of a commercial contract to build a liquefied natural gas import terminal in Indonesia due to challenges in project financing, writes Xu Yihe.
Despite a letter of intent signed with Indonesia’s Energi Dian Kemala (EDK) to provide financing, engineering, procurement and construction services for the terminal, COOEC has found it tough to meet the project financing requirements expected by EDK and has opted to halt negotiations on a commercial contract.
