First LNG Cargo from PNG LNG Project Heads for Japan

Mitsui O.S.K. Lines, Ltd. said yesterday that the LNG carrier Spirit of Hela, which is jointly owned by MOL and Itochu Corporation, has left Papua New Guinea carrying the first LNG cargo from the ExxonMobil-led PNG LNG Project.

The PNG LNG Project is Papua New Guinea’s first ever LNG project, and will provide long-term supply of gas to customers in Japan and other countries.

The vessel loaded LNG at the Project’s Marine Terminal, which is located near Port Moresby, the capital of Papua New Guinea. The first cargo will be delivered to Tokyo Electric Power Company.

On May 14, Papua New Guinea’s Prime Minister Peter O’Neill visited the vessel for a tour.

“This announcement is a historic moment for Papua New Guinea,” ExxonMobil PNG Limited Managing Director Peter Graham said. “This is the country’s largest resource project and it has taken the effort of many thousands of people to bring it to fruition.”

The Project is expected to produce more than 9 trillion cubic feet of gas over the estimated 30 years of operations.

The PNG LNG Project will provide a long-term supply of LNG to four major customers in the Asia region including China Petroleum and Chemical Corp. (Sinopec), Tokyo Electric Power Co. Inc. (TEPCO), Osaka Gas Co. Ltd., and CPC Corp. Taiwan.

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Press Release, May 27, 2014, Image: ExxonMobil