Report: ExxonMobil offering PNG LNG volumes on mid-term deals

ExxonMobil is looking to sell 1.3 million tons of mid-term LNG volumes from its Papua New Guinea liquefied natural gas project. 

Speaking to Reuters, Stephen McCusker, vice president of PNG marketing at ExxonMobil Asia Pacific, said the project was originally contracted for 6.6 mtpa, however, the facility produced over the nameplate capacity during 2016, allowing ExxonMobil to offer excess volumes under mid-term contracts.

The Papua New Guinea LNG plant produced 7.9 mtpa of liquefied natural gas in 2016, 14 percent over the original nameplate capacity of 6.9 mtpa.

The project had already issued a tender in February selling six cargoes or delivery between May and October.

Long-term consumers of the Papua New Guinea LNG project include China Petroleum and Chemical Corporation (Sinopec), Japan’s Osaka Gas, Tepco and Taiwan’s CPC Corporation.

ExxonMobil is the operator of the project with other Oil Search,  Santos, National Petroleum Company of PNG, JX Nippon Oil and Gas Exploration, Mineral Resources Development Company, and Petromin PNG Holdings as other JV participants.

LNG World News Staff