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Papua New Guinea LNG approved by year end: Santos
By resourceINTEL · September 16, 2009 · 9:00 am · Leave a Comment
SANTOS chief executive David Knox expects the ExxonMobil-led Papua New Guinea liquefied natural gas project to be approved this year and the deal to be closed in the first quarter of 2010.
“All being well, we will approve that project this year,” he said in response to a question on whether the company is still set to make its final investment decision on that project this year.
This talk comes on the heels of Chevron, Exxon Mobil and Royal Dutch Shell’s agreement to proceed with the more than $43 billion Gorgon natural gas project in Western Australia.
Australia’s LNG sector is set to boom with a number of sizable projects on the drawing board, nearing the final stages.
For its part, Santos has four LNG projects on its plate and is partnering with larger companies to help it both financially and technically.
“We’ve been simplifying our portfolio,” Mr Knox said, adding that Santos has sold smaller assets in order to focus on the larger projects.
Both the Gorgon and Papua New Guinea projects already have signed customers for significant portions of their projected supply…read more at The Australian
