Japan Oil, Gas and Metals National Corp. (JOGMEC) recently signed loan guarantee agreements to support the development of a third liquefaction train (Train 3) at the Tangguh LNG Project in Papua Barat, Indonesia.
JOGMEC will provide financial support to three companies that jointly hold a 22.23% participating interest in the LNG project, namely Nippon Oil Exploration (Berau) Ltd, KG Berau Petroleum Ltd and KG Wiriagar Petroleum Ltd. The LNG project is led by BP.
In July 2016, the shareholders of the Tangguh Production Sharing Contract Partners announced that the final investment decision (FID) had been approved to advance the development of the Tangguh Expansion Project. Train 3 will have a production capacity of 3.8 million tpy. The project also includes two offshore platforms, 13 new production wells, a new LNG jetty, and supporting infrastructure.
Production is expected to commence in 2020.
Edited from press release by Callum O'Reilly