Case Study: BP
Undertaking Equator Principle environmental and social assessment of Tangguh LNG Project
The Tangguh project is centered on the Bintuni Bay area of Papua - 3,200 kilometers from Jakarta - an area that is biologically rich, physically dynamic and sparsely populated by indigenous communities. It involves the tapping of six Tangguh fields to extract combined proven reserves of around 14.4 trillion cubic feet of clean gas. Two normally unmanned offshore production platforms, located in Bintuni Bay, will collect the gas from the reservoir, then send it through sub-sea pipelines to an LNG processing facility on the south shore. From here, LNG will be exported from a tanker terminal to markets in Asia Pacific and North America.
We were commissioned to carry out an environmental and social due diligence of the Tangguh LNG project in Papua, Indonesia on behalf of a consortium of International Commercial Banks (ICB), for the Asian Development Bank (ADB) and the Japanese Bank for International Cooperation (JBIC). The study’s objectives included providing technical support and advice to the Lenders to the Tangguh LNG Project and to liaise with the Tangguh LNG project in satisfying the objectives and concerns of the Lenders to ensure the environmental and social compliance meets with the international standards and best practice, specifically Equator Principles, JBIC and ADB Guidelines and Safeguard Policies.
Benefits and Value
We were able to assure the Lenders that the Tangguh LNG Project meets with international standards and best practice.