InterOil and Gunvor ink LNG supply deal

InterOil and Pacific LNG have inked an Head of Agreement with Gunvor of Singapore for supply of one million tonnes of LNG per year from the Gulf LNG Project Papua New Guinea.

InterOil and Pacific LNG said that they were working to complete the negotiation and finalise a binding sale and purchases agreement with Gunvor by second quarter of 2012.

The Gulf LNG Project in Papua New Guinea comprises the Elk and Antelope gas fields and the planned liquefaction and associated facilities in the Gulf Province of PNG to be developed by Liquid Niugini Gas Ltd., InterOil and Pacific LNG's joint-venture project company.