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>

<< Jun 2017 >>
MTWTFSS
29 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

CWC World LNG & Gas Series: Asia Pacific Summit

Now in its ninth year, the most established and highly-regarded LNG Summit in Asia Pacific – CWC’s World LNG & Gas Series: Asia Pacific Summit…

read more >

CWC World LNG & Gas Series: Americas Summit

The Premier Meeting Place in the Americas for LNG & Gas Supply Chain

read more >

Bunkering Week 2017

IBC’s biennial Bunkering Week is back with its successful series of 3 co-located events…

read more >

03rd OIL & GAS TANZANIA 2017

After a successful Oil & Gas Exhibition in 2016, Expogroup is all set for the 6th OIL & GAS AFRICA 2017…

read more >