Papua New Guinea LNG Pipeline Project Secures Agreements
The $15-billion Papua New Guinea liquefied natural-gas project has secured several new off-take commitments from energy companies across Asia, leading joint-venture senior partner ExxonMobil to announce it will press ahead with the 435-mile pipeline project. It would represent the largest foreign investment in Papua New Guinea to date and, when the project is completed, will deliver an estimated 6.3 million tonnes of liquefied natural gas per year to customers across east Asia.
PNG LNG, as the project is known, is a joint venture led by Esso Highlands, a subsidiary of ExxonMobil; Oil Search, Santos; the government of Papua New Guinea; and a trustee representing the interests of landowners affected by the project.