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BP’s Tangguh LNG Train 3 project gets US$3.745 bln loan from national and international banks

JAKARTA ( – The LNG Train 3 project, being operated and developed by British Petroleum (BP), on Wednesday signed financial agreement amounting to US$3.745 billion from national and international banks.

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).

“This is the first time an LNG project financing involves national banks,” said the head of SKK Migas Amien Sunaryadi.

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.

National banks that involved in the deal are PT Bank Mandiri (Persero) Tbk, PT. Bank Negara Indonesia (Persero) Tbk., PT Bank Rakyat Indonesia (Persero) Tbk and PT Indonesia Infrastructure Finance.

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. (*)


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