ADB contributes $350M to Indonesian gas project

The Asian Development Bank is lending $350 million to finance the Tangguh Liquefied Natural Gas Project in Irian Jaya Barat province in Indonesia. The multi-billion-dollar project, which will be operated by energy firm BP, involves developing, constructing and running gas production wells, platforms and a liquefied natural gas plant. Several international investors and banks, according to the agency, will provide the rest of the needed funding. (Source: ADB offers 350 million USD loan for Indonesian LNG project/Xinhua)