Exxon Mobil Secures USD 1.5 Billion Financing for PNG LNG Project

Exxon Mobil Secures USD 1.5 Billion Financing for PNG LNG Project

Esso Highlands, a subsidiary of Exxon Mobil and operator of the PNG LNG Project, said that financing arrangements to raise US$1.5 billion of supplemental project financing are complete, taking the total project financing facility to US$15.5 billion.

The financing was well supported, with the funds sourced from co- venturer and commercial bank lenders, and will be used to finance the debt component of the project cost increase announced in November 2012, a statement said.

The estimated cost of the LNG project remains unchanged, at US$19 billion, and the project remains on track to achieve first deliveries of LNG in the second half of 2014.

The PNG LNG project is a joint venture between Exxon Mobil, Oil Search , NPCP, Santos, JX Nippon Oil & Gas Exploration, Mineral Resources Development Company and Petromin PNG Holdings.

LNG World News Staff, October 4, 2013; Image: Oil Search

 

Share this article

Follow LNG World News

One thought on “Exxon Mobil Secures USD 1.5 Billion Financing for PNG LNG Project”

Comments are closed.

Events>

<< Apr 2015 >>
MTWTFSS
30 31 1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30 1 2 3

Understanding Terminals and Terminal Operations: A Critical Link in the LNG Chain

With the boom in construction of LNG plant across the world, companies need to understand how an LNG terminal is operated…

read more >

Fundamentals of LNG

Operational and commercial essentials of the Liquefied Natural Gas sector from IBC Academy…

read more >

2015 China Oil and Gas Infrastructure, Logistics and Distribution Conference

2015 China Oil and Gas Infrastructure, Logistics and Distribution Conference (COGILD 2015 ) will provide a top-level overview and detailed insight into the operating environment of the energy infrastructure construction industry in China. It is an essential forum for investors, engineering, procurement and construction contractors, designers, equipment providers and other decision makers involved in energy project investment.

More Info

read more >

5th Colombia Oil & Gas Conference & Exhibition 2015

The Colombia Oil & Gas Conference is the must attend platform for all existing and potential stakeholders wanting to discover new…

read more >