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

Origin

04/04/2018 12:50

(Adds table showing LNG shipments, details)
    JAKARTA, April 4 (Reuters) - 
    * Oil major BP BP.L  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
 0883.HK  and a venture between Mitsubishi Corp  8058.T  and
Inpex  1605.T 

    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
    

 (Reporting by Wilda Asmarini; Writing by Fergus Jensen; Editing
by Christian Schmollinger and David Evans)
 ((fergus.jensen@thomsonreuters.com; +62 21 2992 7604; Reuters
Messaging: fergus.jensen.thomsonreuters.com@reuters.net))