SOURCE: Industrial Info Resources

Industrial Info Resources

November 09, 2012 06:15 ET

BP Strikes $12.1 Billion Tangguh LNG Expansion Deal With Indonesian Government, an Industrial Info News Alert

JOHANNESBURG, SOUTH AFRICA--(Marketwire - Nov 9, 2012) - Written by Richard Finlayson, Senior International Editor for Industrial Info Resources (Sugar Land, Texas) -- The United Kingdom and Indonesia have agreed on a $12.1 billion deal that will allow the oil and gas major BP plc (NYSE:BP) (London, England) to expand its operations in Indonesia's liquefied natural gas (LNG) market. The deal was announced after a meeting between U.K. Prime Minister David Cameron and Indonesia's Susilo Bambang Yudhoyono. The announcement indicates that Indonesia's Ministry of Energy and oil and gas executive agency BPMigas have approved, in principle, the expansion plans drawn up for the BP-operated Tangguh LNG project, which is in Papua Barat province, in eastern Indonesia.

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