LNG

Australia's Oil Search Ltd. has agreed a $2.2 billion takeover of InterOil Corp., increasing its stakes in the existing ExxonMobil-operated Papua New Guinea LNG plant and the proposed Papua LNG project led by French energy major Total after itself rebuffing an acquisition effort by Woodside Petroleum in 2015.

InterOil Corp., the Papua New Guinea liquefied natural gas plant developer and stakeholder, said momentum was building for the Oceania nation’s second project, Papua LNG, after excellent reservoir quality tests in the onshore Antelope natural gas field.