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BP’s move is counter-cyclical, but its also economically compelling. We forecast that the US$8 billion project will generate a healthy return of 19.6% (under a US$70/bbl long term price assumption). Even under our low price case (long term US$50/bbl), the economics remain robust, with returns of 14%. BP’s decision illustrates that companies are still willing to commit material investment within the LNG sector – but only for the right project, at the right cost and for the right returns.
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This Upstream Oil and Gas Insight report highlights the key issues surrounding this topic, and draws out the key implications for those involved.
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Insight | Jul 2016
BP sanctions Tangguh LNG expansion in Indonesia
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