PNG LNG floats single cargo tender

Papua New Guinea LNG export facility, operated by the US energy giant ExxonMobil, has reportedly lined up one cargo for sale. 

Citing industry sources, Reuters reports the cargo will be delivered in September, with the tender closing on Wednesday.

Delivery is set for Japan, Taiwan, South Korea or China.

The sources told the cargo would relieve the Japanese and South Korean spot LNG market that has been tightened due to warm temperatures.

PNG LNG project last month signed a mid-term sale and purchase agreement with PetroChina for the supply of 0.45 million tonnes of  LNG per year over a three-year period.

This bumped the total contracted volumes from the LNG project to 7 mtpa, with 6.6 million tonnes of PNG LNG’s annual output already committed under long-term contracts to JERA, Osaka Gas, Sinopec and CPC.

LNG World News Staff