PNG LNG 95% Complete

ExxonMobil’s PNG LNG joint venture project is 95 percent complete and will ship first gas within months.

“Overall, we are more than 95% complete, and we remain on track for first delivery of gas to our customers by mid-year,” Exxon project executive Decie Autin told the APPEA oil and gas conference in Perth on Wednesday.

Autin added that ExxonMobil is delivering this project on time and essentially on budget.

Exxon operates the project and holds a 33 per cent stake, Oil Search has a 29 per cent share, the PNG government has a 17 per cent interest and Santos holds around 13.5 per cent.

There are over 700 kilometres of pipelines connecting the facilities, which includes a gas conditioning plant in Hides and liquefaction and storage facilities with capacity of 6.9 million tonnes per year.

The investment for the initial phase of the project is estimated at $19 billion. According to Exxon, over the life of the project it is expected that over nine trillion cubic feet of gas will be produced and sold.

The project has gas production and processing facilities in the Southern Highlands, Hela, Western, Gulf and Central Provinces of Papua New Guinea.

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