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BP to Go Ahead with $8 Bln Indonesia LNG Project Expansion

stander
stander
in Oil, Gas and Energy News

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TOKYO/JAKARTA, July 1 (Reuters) - BP gained final investment approval to an $8 billion expansion of the Tangguh liquefied natural gas (LNG) project in Indonesia on Friday, clearing the way for a third train to start operations in 2020.


BP is going forward with expansion of Tangguh despite announcing it would rein back on spending this year due to weak oil prices. It also approved investment on an Egyptian gas field last week.


The investment will boost annual LNG production capacity at the Tangguh project in Indonesia's West Papua province by 50 percent to 11.4 million tonnes.


http://www.downstreamtoday.com/news/article.aspx?a_id=52657


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