Ex-CEO of Indonesia State-Owned Energy Group Pertamina Karen Agustiawan Sentenced to 9 Years Jail & Fined $30,000 for Corruption for Buying Liquefied Natural Gas (LNG) from United States Cheniere Energy (Corpus Christi Liquefaction Facility), Karen Agustiawan as CEO of Pertamina from 2009 to 2014 Had Signed Long-Term LNG Purchase Contract Resulting in $113 Million Losses, Facility Produced LNG Only in 2018 with Supply Starting in 2019 But Indonesia Market Has Oversupply of LNG & Resold in Global Market with Losses
27th June 2024 | Hong Kong
The ex-CEO of Indonesia state-owned energy group Pertamina Karen Agustiawan has been sentenced to 9 years jail & fined $30,000 (500 million rupiah) for corruption for buying Liquefied Natural Gas (LNG) from United States Cheniere Energy (Corpus Christi Liquefaction Facility), with Karen Agustiawan (CEO of Pertamina from 2009 to 2014) having signed a long-term LNG purchase contract resulting in $113 million losses. The Corpus Christi Liquefaction facility had produced LNG only in 2018, with supply starting in 2019 but Indonesia market has oversupply of LNG & was resold in global market with losses. In 2020, an Indonesia Supreme Court overturned Karen Agustiawan 8-year jail sentence for her decision at Pertamina to invest in Australia Basker Manta Gummy Block resulting in estimated $40 million losses. Pertamina is the Indonesia national energy company, 100% owned by the Government of Indonesia with the Minister of State-Owned Enterprise (SOE) as the Shareholder Proxy.
“ Ex-CEO of Indonesia State-Owned Energy Group Pertamina Karen Agustiawan Sentenced to 9 Years Jail & Fined $30,000 for Corruption for Buying Liquefied Natural Gas (LNG) from United States Cheniere Energy (Corpus Christi Liquefaction Facility), Karen Agustiawan as CEO of Pertamina from 2009 to 2014 Had Signed Long-Term LNG Purchase Contract Resulting in $113 Million Losses, Facility Produced LNG Only in 2018 with Supply Starting in 2019 But Indonesia Market Has Oversupply of LNG & Resold in Global Market with Losses “
Ex-CEO of Indonesia State-Owned Energy Group Pertamina Karen Agustiawan Sentenced to 9 Years Jail & Fined $30,000 for Corruption for Buying Liquefied Natural Gas (LNG) from United States Cheniere Energy (Corpus Christi Liquefaction Facility), Karen Agustiawan as CEO of Pertamina from 2009 to 2014 Had Signed Long-Term LNG Purchase Contract Resulting in $113 Million Losses, Facility Produced LNG Only in 2018 with Supply Starting in 2019 But Indonesia Market Has Oversupply of LNG & Resold in Global Market with Losses
Sign Up / Register
Caproasia Users
- Manage $20 million to $3 billion of assets
- Invest $3 million to $300 million
- Advise institutions, billionaires, UHNWs & HNWs
Caproasia Platforms | 11,000 Investors & Advisors
- Caproasia.com
- Caproasia Access
- Caproasia Events
- The Financial Centre | Find Services
- Membership
- Family Office Circle
- Professional Investor Circle
- Investor Relations Network
Monthly Roundtable & Networking
Family Office Programs
The 2024 Investment Day
- March 2024 - Hong Kong
- March 2024 - Singapore
- July 2024 - Hong Kong
- July 2024 - Singapore
- Sept 2024 - Hong Kong
- Sept 2024 - Singapore
- Oct 2024 - Hong Kong
- Nov 2024 - Singapore
- Visit: The Investment Day | Register: Click here
Caproasia Summits
- The Institutional Investor Summit
- The Investment / Alternatives Summit
- The Private Wealth Summit
- The Family Office Summit
- The CEO & Entrepreneur Summit
- The Capital Markets Summit
- The ESG / Sustainable Investment Summit