LNG, Markets, Projects

Three major buyers for PNG LNG

ExxonMobil Gas & Power Marketing Company Vice President of LNG Ron Billings said “This is a key milestone in the project’s schedule, with delivery of LNG to the market expected to commence in late 2013 or early 2014.”?

A fourth LNG buyer is awaiting Government approval of key commercial terms for the remaining 2 MMt/a of production capacity.

Exclusive discussion will commence with these customers to finalise binding sales and purchase agreements.

The PNG LNG Project involves an integrated development of the Hides, Angore and Juha gas fields as well as associated gas from the Kutubu, Agogo, Gobe and Moran oil fields. Gas will be transported to an LNG plant near Port Moresby through more than 700 km of large diameter pipeline.

The project is operated by ExxonMobil and is currently in the front-end engineering and design stage.

Other joint venture participants include Santos, Oil Search, Nippon Oil Exploration, Minerals Resource Development Company and Eda Oil.

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