PNG LNG in mid-term deal with PetroChina

PNG LNG (Image courtesy of Oil Search)

The ExxonMobil-operated PNG LNG project has entered into a mid-term sale and purchase agreement with PetroChina for the supply of liquefied natural gas starting in July 2018.

The mid-term deal is for the supply of about 0.45 million tonnes of  LNG per year over a three-year period from the LNG project in Papua New Guinea, according to a statement by Oil Search that has a 29 percent interest PNG LNG.

This deal takes the total contracted volumes from the LNG project to 7 mtpa, with 6.6 million tonnes of PNG LNG’s annual output already committed under long-term contracts to JERA, Osaka Gas, Sinopec and CPC.

ExxonMobil, on behalf of the PNG LNG project participants, is negotiating with a number of other parties for potential mid-term LNG supply agreements in lieu of spot sales.

These agreements are expected to be concluded in the near-term and increase sales under new mid-term agreements to 1.3 mtpa, the statement said.

The LNG export project includes the gas conditioning plant in Hides and liquefaction and storage facilities near Port Moresby with a capacity of 6.9 million tonnes per year.

 

LNG World News Staff

Share this article

Follow LNG World News

Posted on July 20, 2018 with tags .

Events>

<< Oct 2019 >>
MTWTFSS
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

Budapest LNG Summit 2019

The Budapest LNG Summit is a niche event focused on the up and coming LNG region of Central & Eastern Europe (CEE).

read more >

5th CWC China LNG & Gas International Summit & Exhibition

5th CWC China LNG & Gas International Summit & Exhibition will return 16 – 17 October 2019, bringing together the key players…

read more >

LNG Bunkering Mediterrean

The only 3-day course offering theoretical and practical training on LNG bunkering designed by the Mediterranean market leaders.   

read more >

6th Mozambique Gas Summit & Exhibit

This year’s edition will have a revamped programme for attendees.

read more >