BP to submit Tangguh LNG expansion plan to Indonesia govt in Aug

SINGAPORE Thu Aug 16, 2012 2:44pm IST

Related Topics

Stocks

   

SINGAPORE Aug 16 (Reuters) - BP PLC will later this month submit a plan to the Indonesian government to build a third liquefied natural gas (LNG) train, estimated to cost $12 billion, at its Tangguh plant, a senior company official said on Thursday.

BP and its partners in the project may take a final investment decision by the middle of 2013 for the new train to start operations in 2019, BP Asia Pacific Regional President William Lin said in an email to Reuters.

The third LNG train will have capacity of 3.8 million tonnes per year (tpa), he said, which would bring total output at the Tangguh plant in Papua Barat province to 11.4 million tpa.

Earlier this month, BP said it was working on a development plan for a possible third train at Tangguh.

As part of the expansion, BP signed in May an initial agreement to provide long-term LNG supply to Indonesia's state utility company Perusahaan Listrik Negara (PLN) and to support PLN in providing electricity for Teluk Bintuni Regency in Papua Barat province.

BP holds a 37.16 percent stake in the Tangguh LNG plant which it operates, and which began working in mid-2009.

Other Tangguh shareholders are MI Berau B.V., CNOOC Ltd , Nippon Oil Exploration (Berau) Ltd, KG Berau/KG Wiriagar, LNG Japan Corporation and Talisman Energy.

FILED UNDER:
  • Most Popular
  • Most Shared

Pending Reform

REUTERS SHOWCASE

Power Theft

Power Theft

India to invest $4 billion to tackle power theft  Full Article 

Debt Funds

Debt Funds

India monitors foreign flows into debt funds, may tighten rules  Full Article 

Bulgari Back in India

Bulgari Back in India

CEO: we shouldn’t have left India so we’re back  Full Article 

 Hindu "Modi-fication"

Hindu "Modi-fication"

Fears grow about Hindu "Modi-fication" of education  Full Article 

Weak Credit

Weak Credit

Hard to hit tax revenue target, credit weak - Jaitley  Full Article 

China Rate Cut

China Rate Cut

China surprises with interest rate cut to spur growth  Full Article 

Gold Imports

Gold Imports

RBI cautious on response to gold import surge  Full Article 

Economic Corridor

Economic Corridor

China commits $45.6 billion for economic corridor with Pakistan  Full Article 

Overseas Funds

Overseas Funds

RBI says overseas borrowed funds can be parked with banks in India  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device  Full Coverage