PNG LNG Project Poised To Boost Gas Production

摘要

CurrentnaturalgasproductioninPapuaNewGuinea(PNG)isneg- ligible at around 100mn cubic metres(Mcm)a year.This is set to rapidly increase once production from the Hides,Angore and Juha fields is brought online to supply the PNG LNG project,which is due to start up from H2 2014. Our forecast therefore sees natural gas production in PNG in- crease from around 100mcm in 2013 to 5bn cubic metres(bcm)in 2014,rising through to 14.8bcm by 2017.The two train PNG LNG projectwillexportupto6.9mntonnesofLNGayear,oramaximum of 9.4bcm.With 6.6mn tonnes of capacity contracted to Asian buy- ers,we anticipate the terminal to run at near-full capacity,with the 0.3mn tonne remainder sold on the spot market.