Jakarta. Indonesia is mulling a ban on liquefied natural gas or LNG exports to meet its domestic demand, according to Chief Investment Minister Luhut Binsar Pandjaitan.

"Our study has shown that we have been exporting LNG for years, but we actually need them now. We have prepared the report on the [LNG export ban] plan for President Joko “Jokowi” Widodo,” Luhut told a conference in Jakarta on Tuesday.

“We will process the LNG at home. Our domestic demand [for LNG] is high. For instance, we need it for our methanol and petrochemical industries," he added.

Luhut said the proposed ban would not affect ongoing export contracts. 

The upstream oil and gas regulator SKK Migas revealed, as reported by Reuters, Indonesia produced 196 cargoes of LNG in 2022. The Southeast Asian country’s LNG exports reached 140.3 cargoes last year. SKK Migas also projected that this year’s LNG exports would be similar to the 2022 figures.

According to the Mineral Resources Ministry, Indonesia’s export destinations for LNG include China, Japan, and South Korea.