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BP sanctions Tangguh LNG expansion in Indonesia

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Report summary

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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Tables and charts

This report includes 3 images and tables including:

Images

  • Indonesia LNG demand and purchase cost
  • Reserves at Tangguh and Genting's Kasuri PSCs
  • BP sanctions Tangguh LNG expansion in Indonesia: Image 1

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