Papua New Guinea - Exxon look to revise P'Nyang gas deal
(Reuters) -Papua New Guinea is set to start talks with Exxon Mobil Corp to try to negotiate better terms from the P'Nyang Gas Project, Minister for Petroleum Kerenga Kua said, with an agreement expected by the end of the month if all goes well.
The push to extract more benefits from the P’Nyang project is part of a wider effort by PNG’s new government to reap more rewards from the country’s mineral and petroleum resources to lift the country out of poverty.
"All things going well we can expect to sign a P'Nyang Gas agreement around the end of this month," Kua said.
The P'Nyang project will help feed an expansion of Exxon's PNG LNG (liquefied natural gas) plant, in which Australia's Oil Search and Santos Ltd are also stakeholders.
Talks over the project were put on hold earlier this year, when the government sought to revise a separate LNG agreement it has with French energy firm Total, in which Exxon is also involved. That deal was finally endorsed in early September, with minor concessions from Total.
Kua had earlier told Reuters the state would seek "far better" terms for P'Nyang than those with Total.
Exxon's Australian office did not immediately respond to a Reuters email, out of its business hours.
The continued expansion of natural gas trade is led primarily by growth in the LNG sector, which has tripled over the past 3 yr.
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GasPro 2.0: A Webcast Symposium
Following on the heels of the highly successful GasPro 2.0 Webcast Symposium in October 2018, the second GasPro Webcast Symposium 2.0 will take place on October 24, 2019.
The 2019 web event will gather experts in the fields of LNG, gas processing, and gas transport/distribution to share their operations expertise, engineering and design solutions, and technology advances and trends with our audience.
Attendees will learn about technology and operational solutions and deployments in a number of areas: plant design and expansion, construction, NGL production, optimization, sulfur removal, marine operations and separation technology.
October 24, 2019 08:30 AM CDT