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Article: United States : Exxon says Sinopec to buy Papua New Guinea LNG.
- Article from:
- TendersInfo
- Article date:
- November 5, 2009
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Byline: manish03
U.S. major ExxonMobil Corp (XOM.N) has reached a preliminary deal to sell 2 million tonnes a year of liquefied natural gas (LNG) from its Papua New Guinea project to China's Sinopec (0386.HK), a key step in moving the project towards final approval.
The agreement with Sinopec means the Exxon-led Papua New Guinea LNG project is now in exclusive talks with four major Asian LNG buyers for binding sales contracts which will underpin almost all of the project's full 6.6 million tonnes per year (mtpy) capacity, Exxon said on Wednesday.
The venture, which includes Australia's Oil Search Ltd (OSH.AX), Santos Ltd (STO.AX), Japan's ...