BP ups Tangguh LNG stake

Indonesia

JAKARTA, December 6, 2016 – BP on Monday confirmed the purchase of an additional stake in Indonesia’s Tangguh LNG project from Repsol.

In a USD 313-million transaction, BP expanded its shareholding in the LNG venture by 3.06%. For Repsol, the deal will generate pre-tax gains to the tune of USD 26 million. The Spanish major announced the sale on Friday.

In July, BP signed off on the final investment decision on the Tangguh expansion project that will see the addition of a third LNG train and raising capacity to 11.4 million tonnes of LNG per year.

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