Tuesday 13.05.14 FIRST SHIPMENT OF LNG TOMORROW PARLIAMENT, NBC News The first cargo of liquefied natural gas will be loaded tomorrow, in preparation for shipment to markets in Asia, in whats been described as a transformational milestone for Papua New Guinea. Treasurer, Patrick Pruaitch, revealed this in Parliament this morning, when responding to questions by the Member for Bulolo, Sam Basil. Mr. Pruaitch declined to answer questions on how much of the LNG revenue will service the UBS loan as the matter is still before the Ombudsman Commission. The multi billion Kina PNG LNG project, which is operated by ExxonMobil affiliate ExxonMobil PNG Limited, is expected to produce more than 9 trillion cubic feet of gas over an estimated 30 years of operations. President of Exxon Mobil Development Company, Neil Duffin, said in a statement recently, the project is located to serve growing Asia markets where LNG demand is expected to rise by about 165 percent between 2010 and 2025, to 370 million tonnes per year.
Posted on: Tue, 13 May 2014 03:47:54 +0000