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>

<< Jan 2018 >>
MTWTFSS
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

Singapore Maritime Technology Conference and Exhibition (SMTC) 2018

The 3rd Singapore Maritime Technology Conference and Exhibition (SMTC) 2018…

read more >

CWC Japan LNG & Gas Summit

The inaugural CWC Japan LNG & Gas Summit, with participation and support from METI, JERA, Tokyo Gas and IEEJ, is the dedicated platform for international suppliers…

read more >

Asia Pacific Maritime and Offshore Exhibition 2018

7 years in the making, APM is the premier shipbuilding & marine, workboat and offshore exhibition in Asia…

read more >

CWC 2nd Papua New Guinea Petroleum & Energy Summit

The 2nd CWC Papua New Guinea Petroleum and Energy Summit is held under the patronage of the Prime Minister of Papua New Guinea…

read more >