Gulf LNG project behind schedule

INTEROIL Corporation, which is developing the Gulf LNG project, recently agreed to with its project partners, Mitsui & Co Ltd and Energy World Corporation on the extension of final investment decision FID deadline.
For onshore development, Mitsui has been engaged in the construction of a condensate stripping plant prior to LNG production.
EWC plans to build a LNG plant, with capacity to produce three million tonnes per year of LNG, along the coast of Papua New Guinea.
Regarding the plan, InterOil announced to put off the time to make FID on construction of the condensate plant to the end of June 2012.
In the meantime, the schedule for FID on the onshore LNG plant was postponed to the end of December.
Although onshore as well as offshore LNG production are planned at Gulf LNG project, Flex LNG Ltd, which is in charge of development of the floating LNG producer, already revealed that the schedule to reach FID could not be fixed and would be delayed.
Since the project as a whole, both onshore and off shore one, is running behind schedule, it has become uncertain whether production can start in 2014.
The reason why Gulf LNG project is totally being delayed is because it is planned to change the operator of the project.
Currently, the operator is being selected for the project, depending on the result of which, the project might be entirely renewed.
 InterOil and the partners need to discern the future directions and have been forced to postpone the schedule.