05-04-2018

BP eyes 119 LNG cargoes a year from Tangguh, Indonesia to 2020

Oil major BP is targeting shipping 119 cargoes of liquefied natural gas (LNG) from its Tangguh project in Indonesia’s West Papua province this year, including 22 for the domestic market, a company official said on Wednesday.

BP expects to keep the same balance of shipments for export and the domestic market unchanged up to 2020, BP Indonesia country head Dharmawan Samsu told a parliament hearing.

After 2020 BP will dedicate roughly one-third of the LNG output from Tangguh to the domestic market, or around 60 cargoes, Samsu said.

Tangguh’s annual output capacity is currently 7.6 million tonnes of the super-cooled fuel from two LNG trains.

An LNG train liquefies natural gas by cooling it to about minus 160 degrees Celsius, which condenses the gas to about 1/600th of its volume for transportation by ship.

The Tangguh project currently has two LNG trains. A third train is currently under construction and is expected to be completed around 2020, Samsu said.

BP leads the Tangguh project with a 37.16 percent stake. Its partners include MI Berau, China National Offshore Oil Co and a venture between Mitsubishi Corp and Inpex

The table below shows buyers of LNG from BP’s Tangguh project 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

Source: Reuters

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