Better terms sought

PAPUA New Guinea will press ExxonMobil Corp for “far better” terms on its P’nyang gas project than the Government secured in a recent agreement with Total SA for its Papua LNG project, Petroleum Minister Kerenga Kua says.
The P’nyang field will help feed an expansion of Exxon’s PNG LNG plant.
If negotiations for the project are protracted, that could delay Exxon’s US$13 billion (K43.9bil) plan with Total’s Papua LNG to double the country’s liquefied natural gas exports by 2024.
Talks on P’nyang were put on hold earlier this year when the Government sought to revise Total’s Papua LNG agreement.
That deal was finally endorsed earlier this month, with minor concessions from Total.