BP buys Repsol's stake in Tangguh LNG project for $313M

• BP (BP +0.4%) says it has acquired Repsol's (OTCQX:REPYF, OTCQX:REPYY) 3.06% stake in the Tangguh liquefied natural gas project in Indonesia for $313M.
• The purchase lifts operator BP's stake in the Tangguh plant, which processes 7.6M metric tons/year of lNG, to a little more than 40%.
• In June BP gave the go-ahead for the $8B expansion of Tangguh's third LNG train.