Tangguh LNG project in Indonesia has reportedly invited bids for its uncommitted LNG cargoes for delivery in 2017-2019.
The project intends on selling eight to 10 cargoes per year to LNG market participants who put their bids in before the deadline on December 5, 2016, sources told Reuters.
According to the report, buyers have to option to bid for a preferred number of cargoes and are in no obligation to to bid for the total number of cargoes on offer.
Last month, Wiratmaja Puja, Indonesia’s director general of oil and gas, said that 63 cargoes for delivery in 2017 are currently uncommitted from the country’s two LNG export projects.
He added that there were still more than 60 cargoes uncommitted in 2018, saying that Indonesia’s two projects are still oversupplied.
The final investment decision for the third liquefaction train at the facility has been reached earlier this year, with BP, the project operator
LNG World News Staff