PNG LNG signs three-year supply deal with PetroChina

摘要

The 6.9mn t/yr PNG LNG project in Papua New Guinea (PNG) has signed a threeyear deal to supply 450,000 t/yr of LNG to state-controlled Chinese energy firm PetroChina, starting this month. PetroChina, which is already an active buyer of PNG LNG spot cargoes, will conclude its first sale under the new term deal in the coming days. PNG LNG has been looking to secure deals for a total of 1.3mn t/yr for up to five years, with the plant having produced consistently above nameplate capacity for a number of years. The PetroChina agreement is the first of these mid-term deals. PNG LNG operator ExxonMobil is in talks with a few parties for the remaining 850,000 t/yr and hopes to finalise agreements soon.