More than 90 PNG LNG cargoes planned this year

ExxonMobil, the operator of the PNG LNG project, expects that more than 90 cargoes will be loaded at the country’s first export plant in 2015.

Since the LNG project commenced production in May last year, 55 LNG cargoes have been lifted and 51 sold, Oil Search, which has a 29 percent stake in the project, said in its earnings report on Thursday.

All long-term LNG contracts have now commenced and the 120-day lenders’ operational completion test for the LNG plant facilities was completed in January, with production significantly above the target rate and no project downtime, the statement said.

The PNG LNG project has a capacity of 6.9 million tonnes per annum and four long-term customers in Asia: Sinopec, Tepco, Osaka Gas and CPC Corporation.

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