LNG agreement with DPE

Business, Normal

The National

THE agreement on the second PNG liquefied natural gas (LNG) project is now with the Department of Petroleum and Energy (DPE).
Project developer InterOil Corp together with joint venture partners Petromin PNG Holdings Ltd and Pacific LNG Operations Ltd submitted the agreement for the construction of the proposed LNG plant in Port Moresby.
InterOil stated on its website the proposed LNG project targeted a US$6 billion (K17 billion) two-train LNG facility, with each train capable of producing about four million tonnes of LNG per year.
InterOil’s chief executive officer and Chairman Phil Mulacek acknowledged key Government officials and especially Prime Minister Sir Michael Somare and DPE Minister William Duma for the support towards the project and the associated agreement.