The National Petroleum Company Papua New Guinea (NPCP), which owns a 16.5% stake in the PNG LNG project, informed it has signed a memorandum of understanding with LNG Japan Corporation.
The two companies plan to develop the marketing, sale and transportation of LNG through a possible joint venture, NPCP said in a statement on Tuesday.
LNG Japan Corporation is a joint venture consisting of two Japanese trading houses, namely Sumitomo Corp. and Sojitz Corp.
LNG World News Staff; Image: NPCP