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Share Price: 460.00
Bid: 459.60
Ask: 459.80
Change: 0.00 (0.00%)
Spread: 0.20 (0.044%)
Open: 460.30
High: 463.35
Low: 458.30
Prev. Close: 460.00
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UPDATE 1-BP eyes 119 LNG cargoes a year from Tangguh, Indonesia to 2020

Wed, 04th Apr 2018 12:50

(Corrects Tangguh project ownership details) JAKARTA, April 4 (Reuters) - * Oil major BP is targeting shipping 119 cargoes ofliquefied natural gas (LNG) from its Tangguh project inIndonesia's West Papua province this year, including 22 for thedomestic market, a company official said on Wednesday. * BP expects to keep the same balance of shipments forexport andthe domestic market unchanged up to 2020, BP Indonesia countryhead Dharmawan Samsu told a parliament hearing. * After 2020 BP will dedicate roughly one-third of the LNGoutputfrom Tangguh to the domestic market, or around 60 cargoes, Samsusaid. * Tangguh's annual output capacity is currently 7.6 milliontonnesof the super-cooled fuel from two LNG trains. * An LNG train liquefies natural gas by cooling it to aboutminus160 degrees Celsius, which condenses the gas to about 1/600th ofits volume for transportation by ship. * The Tangguh project currently has two LNG trains. A thirdtrainis currently under construction and is expected to be completedaround 2020, Samsu said. * BP leads the Tangguh project with a 40.22 percentparticipatinginterest. Its partners include China National Offshore Oil Co(CNOOC) and a venture between Mitsubishi Corpand Inpex, among others. The table below shows buyers of LNG from BP's Tangguhproject this year. Buyer (cargoes) Domestic PLN 20 PGN 2 Export Fujian 42 SK Korea 8 Posco 9 Tokoku 6 Sempra 3 Kansai 4 Itochu 6 ISE 1 Marubeni 6 Origin^ 4 DGI 2 Engie 1 Cheniere 1 Shell 4 Total 119 ^ spot sale (Reporting by Wilda Asmarini; Writing by Fergus Jensen; Editingby Christian Schmollinger and David Evans)
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