BP, CNOOC amend Tangguh LNG pricing

摘要

Jakarta—After more than a year of negotiations, BP and China National Offshore Oil Corporation have agreed on new pricing terms for LNG exported from Indonesia’s Tangguh project to the state-owned Chinese company, Indonesian energy and mines minister Jero Wacik said Tuesday. The amended deal, which will take effect July 1, 2014, will see the removal of the Japan Customs Cleared crude price cap in the LNG pricing formula, meaning the Tangguh LNG price will be allowed to fluctuate with crude prices, said Wacik.