Indonesia's state-owned Pertamina has issued its first sustainable aviation fuel (SAF) import tender, including Argus' Singapore SAF and jet fuel prices as a pricing option.

The fuel will be used to power an aircraft during the Bali International Air Show. It is seeking either 150 kilolitres (940 bl) of neat SAF through isotanks on a dap/cfr basis to its aviation fuel terminal at Ngurah Rai International Airport, or 3,500 kl of blended SAF, consisting of 15-30pc SAF blended with fossil jet fuel, through a tanker on a cfr/dap Tanjung Benoa, Bali basis. Both cargoes must be Roundtable on Sustainable Biomaterials or ISCC Corsia certified. The seller must provide a proof of sustainability document. The neat SAF will be priced on either the whole month average of Argus' fob Singapore SAF prices in August or the average of Platts' Singapore spot kerosine assessments in the same month. For the blended SAF, the SAF component will similarly be priced against the whole-month average of Argus' fob Singapore SAF prices in August. The fossil jet fuel component will be priced on the average of Argus or Platts' Singapore spot kerosine assessments in August, whichever is lower. Offers must be submitted by June 12, 2024and will remain valid until June 17, 2024.