Lower Oil Prices Good for LNG in PNG

摘要

US-listed explorer InterOil reckons lower oil prices will benefit its LNG project based on the Elk-Antelope fields in Papua New Guinea (PNG), where the first LNG exports started earlier this year. "We believe our project can be highly cost competitive at oil prices much lower than we have now. Thus, the current oil price dip is not of concern to our long-term outlook," an Interoil spokesman told International Oil Daily on Wednesday. Lower oil prices will benefit explorers reliant on service companies as they will have to compete more vigorously for business, he added.