Previously during a hearing with House of Representatives lawmakers in November, Energy and Mineral Resources Minister Arifin Tasrif said he planned to stop supplying gas to the city-state.
The decision is expected to add value for Indonesia’s natural gas and reduce its trade balance deficit, as the use of gas could shift to oil fuel.
Indonesia's gas exports to Singapore come from the Corridor Block managed by ConocoPhillips, which has a supply of 300 million standard cubic feet per day (mmscfd).
Statistics Indonesia data showed the country’s oil and gas exports totalled US$167.5 billion last year, a 6.94 percent decline year-on-year (yoy).
"Gas exports to Singapore will stop in 2023 and we will use the gas for the domestic market,” Downstream Oil and Gas Regulatory Agency head Fanshurullah Asa said.