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Tuesday, 02 December, 2008, 22:10 GMT | more >>

Teekay close to Tangguh charter deal



By Upstream staff 

Teekay Shipping and its Indonesian partner Fast Marine Services are in the final stages of negotiating long-term charters for two liquefied natural gas carriers for the BP-operated Tangguh project in Indonesia.

The company said that 20-year charters will be offered to Teekay LNG Partners .

The first train at Tangguh is scheduled to come into operation in late 2008 while train two will follow in the next year.

The three production sharing contracts Berau, Muturi and Wiriagar that will supply gas to Tangguh have combined proven reserves of 14.4 trillion cubic feet, which is sufficient to fuel six trains of between 3 million and 3.5 million tpa each.

The Tangguh partners are operator BP with 37.2%, Mitsubishi and Inpex 16.3%, CNOOC Ltd 17%, Nippon Oil 12.2%, Kanematsu 10% and Japan LNG (Sumitomo and Sojitz) 7.3%.


Friday, 17 June, 2005, 02:31 GMT  | last updated: Friday, 17 June, 2005, 02:31 GMT

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