The Tangguh project is one of the largest investments in Indonesia. The deal secures the future of the scheme, which is operated and 50 per cent owned by BP.
CNOOC is confident enough to acquire a 12.5 per cent stake in the Tangguh project as part of the deal.BP has not decided yet how much of its stake in the project will be sold to CNOOC and how much will come from other project partners.
Construction is expected to begin this year, with the first gas to be piped out in 2006.
Tangguh is expected to produce some 7m metric tonnes of LNG a year.
After the incident with the shootdown of the Ilyushin Il-20 reconnaissance aircraft over the Mediterranean Sea, Russia will supply an S-300 anti-aircraft missile system to Syria
Indeed, how dare they run US-independent policy? They should have followed the example of the European Union that turned independent states of the Old World into US-ditto entities