Exxon Mobil starts production PNG LNG project ahead schedule

Exxon Mobil starts production of PNG LNG project ahead of schedule

10:04 AM, 29th April 2014
Exxon Mobil starts production of PNG LNG project ahead of schedule

IRVING, US: Exxon Mobil Corporation’s $19 billion PNG LNG project has started the production of liquefied natural gas (LNG) in Papua New Guinea ahead of schedule. Production from the first LNG train will increase over the coming weeks and the first cargo is expected to be shipped to Asia markets before midyear. Work on the second train is progressing and LNG production from this unit is expected to start in the next several weeks. The project, which is operated by ExxonMobil affiliate ExxonMobil PNG Limited, is expected to produce more than nine trillion cubic feet of gas over an estimated 30 years of operations.

The project is an integrated development that includes gas production and processing facilities in the Southern Highlands, Hela, Western, Gulf and Central provinces of Papua New Guinea. Approximately 435 miles of pipeline connect the facilities, which include a gas conditioning plant and liquefaction and storage facilities with capacity of 6.9 million tonne of LNG per year.

“The PNG LNG project exemplifies ExxonMobil’s leadership in project execution, advanced technologies and marketing capabilities. Project revenue and profitability are underpinned by long-term LNG sales contracts covering more than 95 per cent of the plant’s capacity. The project is optimally located to serve growing Asia markets where LNG demand is expected to rise by approximately 165 per cent between 2010 and 2025, to 370 million tonne per year,” said Neil W Duffin, President of ExxonMobil Development Company.

 

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