Government of Papua New Guinea approves InterOil LNG project


InterOil Corporation has achieved another significant milestone in its efforts to commercialise the Elk/Antelope natural gas field in Papua New Guinea, after the country’s National Executive Council (NEC) approved the company’s project agreement for the construction of an LNG plant.

The approval builds on InterOil’s strong record of success in Papua New Guinea, including setting two world records for natural gas flows.

As previously announced, the proposed LNG project would be developed by InterOil and its joint venture partners, including foundation partner Pacific LNG Operations Ltd. The Government of Papua New Guinea, through its nominee Petromin PNG Holdings Limited, will have up to a 22.5% equity interest in the project.

The project targets a $7bn two-train LNG facility, with each train capable of producing approximately 4 million tons of LNG per annum.

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