NATGAS: Indonesia's PGN to use LNG Meant for export on supply shortfall: Platts
Mar-12 16:42
Indonesia's PGN will use LNG initially allocated for export from Tangguh, Bontang, or Donggi Senoro to cover a supply shortfall from Medco's Corridor block in South Sumatra, Platts said.
- PGN President Director Arief Setiawan Handoko stated that cancelled export commitments will meet domestic needs, increasing costs for PGN.
- He hopes domestic gas supply and LNG sources will provide a long-term solution, especially for remote areas.
- Handoko urged the government to allocate gas according to PGN's plans and create an upstream gas pricing scheme considering purchasing power, aligning with Indonesia's goal of energy self-sufficiency.
- Indonesia exported 17.5m mt of LNG in 2024, with China, Japan, and South Korea as the biggest buyers. LNG exports so far this year have totalled 3.8m mt.
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US: Schumer Suggests Democrats Could Leverage Government Shutdown
Feb-10 16:35
Senate Minority Leader Chuck Schumer (D-NY) has signalled in a 'letter to colleagues' that Senate Democrats will use leverage in the upcoming government funding negotiations to push back against President Donald Trump's attempts to reform the federal bureaucracy.
- Schumer: "President Trump has handed the keys of the Presidency to his cronies, sycophants, and radicals who are hell-bent on pursuing a coordinated agenda - mapped out in grave detail in Project 2025 - to hollow out the government and cut off critical services to American communities across the country. This is for one purpose: More power and wealth for the very rich."
- Schumer added that Senate Democrats, "will use our votes to help steady the ship for the American people in these turbulent times. It is incumbent on responsible Republicans to get serious and work in a bipartisan fashion to avoid a Trump Shutdown."
- Schumer's letter comes as Democrat and Republican negotiators appear far from agreeing on a topline number for FY2025 funding, just 32 days from the funding deadline.
- Senator Andy Kim (D-NJ) similarly indicated to NBC yesterday that Democrats may be willing to use a shutdown as leverage to oppose government reforms: “...for the last two years, [Republcians] needed Democratic votes for every single continuing resolution and they should not count on that this time,”
- Punchbowl noted this morning: “We’ve been crystal clear in our view that Washington is drastically underestimating the chance for a government shutdown after March 14.”
FED: US TSY 13W BILL AUCTION: HIGH 4.225%(ALLOT 79.50%)
Feb-10 16:32
- US TSY 13W BILL AUCTION: HIGH 4.225%(ALLOT 79.50%)
- US TSY 13W BILL AUCTION: DEALERS TAKE 35.45% OF COMPETITIVES
- US TSY 13W BILL AUCTION: DIRECTS TAKE 5.32% OF COMPETITIVES
- US TSY 13W BILL AUCTION: INDIRECTS TAKE 59.23% OF COMPETITIVES
- US TSY 13W BILL AUCTION: BID/CVR 3.01
FED: US TSY 13W AUCTION: NON-COMP BIDS $2.291 BLN FROM $84.000 BLN TOTAL
Feb-10 16:15
- US TSY 13W AUCTION: NON-COMP BIDS $2.291 BLN FROM $84.000 BLN TOTAL
