Liquefied Natural Gas Business Turnover
Tuesday, December 4, 2012
Unlike with the sale of oil, procedures for selling liquefied gas natural (LNG) go through numerous steps. Special preparations are necessary, including storing the LNG in special tanks which must be kept at temperatures of -160 degrees Celsius. Also, specific vessels are needed for transportation. This complicated process is why LNG can only be sold to traders who meet certain criteria.
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The Tangguh LNG Refinery
Tangguh is one of LNG centers in Indonesia, besides Arun (Aceh) and Bontang (East Kalimantan). The project began in 1997 with an agreement between BP, based in London, England, and the Indonesian government, represented by Pertamina. In 2005, the Indonesian government authorized the Tangguh project in Bintuni Bay, West Papua. In 2007, the Tangguh project received funding totaling US$3,5 million from several international...
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