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Market Chatter: Ex-Pertamina Executives Handed Sentences in LNG Corruption Case

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-- Two former executives of Indonesian state-owned oil and natural gas company Pertamina were sentenced to jail by Central Jakarta District Court over an LNG purchase case, The Jakarta Globe reported Monday.

Pertamina's former gas director Hari Karyuliarto was sentenced to 4.5 years in prison, while former vice president for strategic planning and business development Yenni Andayani received a 3.5-year term.

The LNG procurement from US firm Corpus Christi Liquefaction between 2011 and 2014 reportedly resulted in state losses of $113.8 million.

Amid an LNG surplus and subdued demand, Pertamina was forced to offload the cargoes in international markets at a loss at the time.

Under a broader corruption case linked to the same transaction, Pertamina's CEO was sentenced to 13 years in prison in February 2025, the report said.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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