The National Iranian Oil Company (NIOC) and Indonesia’s Pertamina are set to begin negotiations to renew a liquefied petroleum gas (LPG) contract, Platts reports.
The companies will discuss both price and quantity.
In May 2016, the NIOC agreed to export 600,000 tons of LPG to Indonesia. The first delivery—of 44,000 tons of propane and butane—arrived in Indonesia in October 2016, according to Platts. Since then, the NIOC has been shipping 44,000 tons per month.
Pertamina has already contracted to import four to six cargoes of 44,000 tons of butane and propane per month next year, Platts reports. The cargoes were awarded to four international companies: Gyxis, Vilma, Total, and Royal Dutch Shell.
Both the NIOC and Pertamina are state-run energy companies.