Papua New Guinea’s second liquefied natural gas project is edging forward after Canadian independent InterOil and its joint venture partners submitted a project agreement to the government to build the proposed plant in Port Moresby.
InterOil said that both the Prime Minister of PNG, Michael Somare, as well as the Minister for Petroleum and Energy, William Duma, have stated their support for the proposed project and associated agreement.
The proposed project targets a $6 billion two train LNG facility, with each train capable of producing about 4 million tonnes of LNG per year. Current plans call for first production of LNG towards the end of 2014 or beginning of 2015.
At least 5000 jobs are expected to be created at peak construction of the InterOil facility. Economic returns from the project are expected to help fund public infrastructure and community services in Papua New Guinea, such as education and health, and provide income to land owners.
InterOil's partners in the project are Petromin PNG Holdings and Pacific LNG Operations.
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