Financing for BP’s planned third LNG at its Tangguh in West Papua, Indonesia, facility is still not completed as 1.3 million tonnes of the train’s capacity remain unsold.
Hit by the drop in oil prices, the LNG market in Asia is facing a tough time as new capacity comes on stream in Australia, leaving even less space for new developments.
Dharmawan Samsu, Head of country at BP Indonesia told Reuters that 1,3 million tonnes of annual capacity have still not been sold making it difficult for the company to proceed with the financing for the third train. The completion of the third train is expected before 2020.
[mappress mapid=”15644″]
LNG World News Staff; Image: BP