Tangguh to ship 18 cargoes of LNG this year

BP-operated Tangguh LNG will be able to ship at least 18 cargoes of LNG to its customers South Korea, China and North America this year, BPMIGAS Chairman R. Priyono said as quoted by Bisnis Indonesia.

Priyono said that with the fleet of 7 vessels, Tangguh will be able to ship 3 cargoes of LNG per month. One cargo equals to 150,000 m3.

Tangguh started shipment of first cargo of LNG to Posco in South Korea earlier this month and is schduled to ship one cargo to CNOOC?s receiving terminal in Fujian next week.

Tangguh is operated by BP Indonesia with 37.16 percent stake. Its partners include MI Berau B.V. (16.3 percent), CNOOC Ltd (13.9 percent), Nippon Oil Exploration (Berau) Ltd (12.23 percent), KG Berau/KG Wiriagar (10 percent), LNG Japan Corporaation (7.35 percent) and Talisman (3.06 percent)

The project has signed long term contracts with LNG Fujian in China (2.6 million tons per year), K-Power and POSCO in South Korea (1.15 million tons) and a flexible contract to supply up to 3.7 million tons per year to the Sempra LNG terminal in Baja California, Mexico. (*)