Indonesia Oil and Gas Report Q4 2010

The latest Indonesia Oil & Gas Report forecasts that the country will account
for 4.94% of Asia Pacific regional oil demand by 2014, while providing 10.86% of
supply. Regional oil use of 21.42mn b/d in 2001 is set to reach a forecast
27.15mn b/d in 2010, then to rise to around 30.21mn b/d by 2014. Regional oil
production was around 8.35mn b/d in 2001 and is forecast to average an estimated
8.82mn b/d in 2010. It is set to increase only slightly to 8.89mn b/d by 2014.
Oil imports are growing rapidly, because demand growth is outstripping the pace
of supply expansion. In 2001 the region was importing an average 13.07mn b/d.
This total will rise to a projected 18.32mn b/d in 2010 and is forecast to reach
21.32mn b/d by 2014. The principal importers will be China, Japan, India and
South Korea. By 2014 the only net exporter will be Malaysia. 

In terms of natural gas, in 2010 the region will consume an estimated 496bcm and
demand of 625bcm is targeted for 2014. Production of a forecast 415bcm in 2010
should reach 522bcm in 2014, which implies net imports rising from around 81bcm
to 104bcm. This is thanks to many Asian gas producers being major exporters.
Indonesias share of gas consumption in 2010 is expected to be 7.68%, while its
share of production is put at 18.31%. By 2014, its share of gas consumption is
forecast to be 7.23%, with the country accounting for 15.71% of supply. 

Source: Reuters