ExxonMobil buys cooldown cargo for PNG LNG plant

US energy giant ExxonMobil has reportedly snapped up a cooldown cargo for its Papua New Guinea liquefied natural gas (LNG) export facility that was shut down following an earthquake at the end of February. 

Citing trade sources, Reuters reports the cargo has been purchased from BP and is scheduled for delivery in early April.

To remind, ExxonMobil’s PNG LNG facility was shut down following a 7.5 magnitude earthquake that hit the Papua New guinea Highlands on February 26,  causing a halt in operations at the plant.

Following a damage assessment, ExxonMobil said it could take up to eight weeks to repair and restore production at the plant.

The cargo purchased by ExxonMobil is set to keep the LNG storage tanks at the facility operational, which is seen as the first step towards restarting LNG production at the plant, which is expected by early May.

LNG World News Staff