BP: Tangguh Plant to Target Japanese, Korean Buyers
BP Plc is looking for Japanese and South Korean buyers for their planned LNG supplies from Tangguh plant in Indonesia. They want to benefit from the lack of regional Asian suppliers, according to Bloomberg.
According to William Lin, BP’s Asia-Pacific president, the company could export up to 60 percent from its third Tangguh production line.
In the interview for Bloomberg on June 29, Lin said: “Indonesia is very strategic to a lot of markets in Asia. For a lot of those buyers, Japanese and Korean, diversification is very important. They don’t want to buy all of their requirements for instance from the Middle East because if something adverse happens, energy security could be at risk”.
Wood Mackenzie Ltd, in a June 6 report said that Asia is expected to be short of LNG through 2018, because of the increasing demand in the region.
Lin said Tangguh’s third line is projected to begin production in 2018, and the construction of third line will start in 2014.
LNG World News Staff, July 09, 2012