The ExxonMobil Corp.-led PNG-LNG project in Papua New Guinea has made a midterm LNG sale agreement with Unipec Singapore Pte. Ltd. for the supply of about 450,000 tonnes/year of LNG over 4 years starting this month. Unipec is a wholly owned subsidiary of Sinopec, one of PNG-LNG’s original long-term customers.
The new deal follows similar agreements with PetroChina and BP last year.
The midterm agreements add to the 6.6 million tpy from the project committed under long-term contracts to JERA, Osaka Gas, Sinopec, and CPC and take the total contracted volumes of LNG from PNG-LNG to about 7.9 million tpy.
PNG-LNG joint venture Oil Search Ltd. with 29% interest says the project now has an appropriate mix of long-term contracts, midterm contracts, and spot-market sales.
