Second LNG export project in Papua New Guinea, operated by Total, is expected to ship first cargoes of the chilled gas in 2021.
As Keli Taureka, executive vice president of InterOil told Reuters, the project partners will begin marketing 6.8 million tons of LNG from the project by the end of this year. Main targets are the buyers in China and Japan.
Taureka added that the project intends on taking advantage of expiring LNG contracts in North Asia during that period. He expects that the gas drawn from Papua New Guinea’s Elk and Antelope fields, one of the largest gas discoveries in the Asia-Pacific in the past 20 years, will easily find its buyers as a doubling in China’s demand, as well as a rebound in energy prices comes about.
Total has a 40.1 percent stake in the LNG export project, InterOil 36.5 percent and Oil Search holds the rest.
LNG World News Staff; Image: InterOil