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>

<< Oct 2017 >>
MTWTFSS
25 26 27 28 29 30 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 31 1 2 3 4 5

CWC World LNG Summit & Awards Evening

The CWC World LNG Summit & Awards Evening is recognised as the premier end of year gathering for the global LNG industry.

read more >

LNG Pricing, Trading & Risk Management – 3-Day Course

This three-day training program provides a unique opportunity to learn and apply the practical skills, knowledge and tools…

read more >

LNG BUNKERING MED

The only 3 day course offering theoretical and practical training on LNG bunkering for the Mediterranean market, the syllabus is accredited…

read more >

EAGC 2017

EAGC 2017 sees a new format that combines the conference programme with targeted networking…

read more >