Key facts
- Indonesia is cutting gas exports to Singapore by approximately 31 million standard cubic feet per day.
- The move is attributed to rising domestic demand and the ongoing haze from forest fires.
- Foreign ministers from Indonesia and Singapore are scheduled to meet on Tuesday.
- MSCI is considering a potential downgrade for Indonesia.
Indonesia will reduce gas exports to Singapore by approximately 31 million standard cubic feet per day, a move attributed to rising domestic demand and the ongoing haze from forest fires. Foreign ministers from both nations are scheduled to meet on Tuesday to discuss the situation. The reduction includes 15 million cubic feet from the Natuna basin and another 16 million from Sumatra. Minister Djoko Siswanto stated the cut was essential to secure supply for local industry and households. Separately, Indonesian authorities seized over one tonne of ketamine from a Malaysian tanker in the Strait of Malacca. MSCI is also reportedly considering a potential downgrade for Indonesia.