PNG LNG project to supply Sinopec unit

BENGALURU: The ExxonMobil operated Papua New Guinea LNG project has agreed a deal to supply liquified natural gas (LNG) to a
unit of China Petroleum & Chemical Corp, Australia’s Santos, a
partner in the project, said this week.
The four-year deal is for the supply of about 0.45 million tonnes of LNG a year to Unipec Singapore, Santos, which holds a 13.5 per cent stake in the PNG LNG project, said in a statement.
The deal will take the US$19 billion (K64bil) Papua New Guinea LNG project’s total contracted LNG volumes to about 7.9 million tonnes per annum (mtpa), it
said.
“The supply and purchase agreement (SPA) with Unipec is the final mid-term LNG SPA that the project has been seeking to secure,” said Peter Botten, managing director at Oil Search, which has a 29 per cent interest in Papua New Guinea LNG.
The project signed similar LNG supply deals with PetroChina Co Ltd and a unit of British oil giant BP last year.
– Reuters