Mandiri, BNI, BRI take part in $3.745b financing for BP Tangguh LNG Train 3 project
JAKARTA (TheInsiderStories) – National banks, namely PT Bank Mandiri (Persero) Tbk, PT. Bank Negara Indonesia (Persero) Tbk., PT Bank Rakyat Indonesia (Persero) Tbk take part in the financing deal amounting to US$3.745 billion to fund the development of Tangguh LNG Train 3 project being developed by BP, the operator of the project.
“This is the first time an LNG project financing involves national banks,” said the head of SKK Migas Amien Sunaryadi. PT Indonesia Infrastructure Finance also takes part in the financing deal.
The signing agreement was signed by the contractors led by BP and the financial institutions at the office of the Special Task Force for Upstream Oil and Gas Business (SKK Migas).
In addition to domestic banks, the funding also comes from financial institutions in China, Japan, Germany, South Korea, France, Singapore and other multilateral agencies. The financial agreement follows the final investment decision (FID), which was completed on July 1, 2016.
Meanwhile, international banks taking part in the deal are Mizuho Bank, Bank of China, China Construction Bank, The Bank of Tokyo-Mitsubishi UFJ, Sumitomo Mitsui Banking Corporation, DBS Bank, United Overseas Bank, BNP Paribas, Credit Agricole Corporate and Investment Bank, Oversea-Chinese Banking Corporation, Korea Development Bank, Shinsei Bank, and KfW Bank.
The additional loan facility from Japan Bank for International Cooperation (JBIC) and other multilateral agencies will be done later.
Tangguh LNG project is located in Bintuni Bay, West Papua province.
Tangguh LNG project is operated by BP Berau Ltd as contractor of SKK Migas. BP holds 37.16 percent in the project, MI Berau B.V. (16.30%), CNOOC Muturi Ltd. (13.90%), Nippon Oil Exploration (Berau), Ltd. (12.23%), KG Berau/KG Wiriagar (10.00%), Indonesia Natural Gas Resources Muturi Inc. (7.35%), and Talisman Wiriagar Overseas Ltd. (3.06%). (*)
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Source: The Insiderstories
Mandiri, BNI, BRI take part in .745b financing for BP Tangguh LNG Train 3 project