Indonesia to Buy 80,000 mt LPG from Iran

Indonesia has agreed to buy 80,000 metric tonne of LPG from Iran.

The two countries signed a deal on Monday in Tehran in the presence of Iranian Minister of Petroleum Bijan Zangeneh and visiting Indonesian Minister for Energy and Mineral Resources Sudirman Said, Iranian oil ministry owned news outlet Shana reported.

Iran will export two LPG cargoes to Indonesia this year. The deal paves way for Iran to hike exports to 500, 000 metric tonne next year.

"Iran and Indonesia share similar stances in OPEC and global oil markets,” Zangeneh said adding Iran has opened all the doors to cooperation with Indonesia.

He added that relations between the two countries facilitate institution of a major change in enhancing mutual ties in oil, gas and petrochemical industries.

The LPG deal is the second major energy cooperation agreement for Indonesia in as many weeks. Last week, state owned Pertamina and Russia's Rosneft agreed to perform a bankable feasibility study to finance the project of construction of the new refining and petrochemical complex Tuban in the eastern part of Java, Indonesia and establish a joint venture for the project implementation. The two would also cooperate in the area of crude and oil products supplies, logistics and infrastructure.