Papua New Guinea LNG stakeholder says way forward is for three new Trains at existing plant
Oil Search, the Australia-listed company that lost a takeover battle for the Papua New Guinea LNG asset holder InterOil to ExxonMobil, has explained its preference for three new production Trains centred on the existing liquefaction plant near the capital Port Moresby.
InterOil deal for $2.5Bln
July 22 (LNGJ) - ExxonMobil and InterOil Corp. confirmed their agreed transaction worth more than $2.5 billion, under which ExxonMobil will acquire InterOil and its Papua New Guinea LNG assets after Australian-listed Oil Search withdrew from the bidding. “This agreement will enable ExxonMobil to create value for the shareholders of both companies and the people of Papua New Guinea,” said Rex W. Tillerson, Chairman and Chief Executive of ExxonMobil. InterOil Chairman Chris Finlayson said: “Our board thoroughly reviewed the ExxonMobil transaction and concluded that it delivers superior value to InterOil shareholders. They will also benefit from their interest in ExxonMobil’s diverse asset base and dividend stream.”
ExxonMobil in $2Bln bid battle with Australian firm for stakeholder in Papua New Guinea LNG
ExxonMobil Corp has made a bid worth at least $2.2 billion for InterOil Corp, a stakeholder in feed-gas assets for Papua New Guinea LNG, trumping a rival offer from Australian-listed Oil Search Ltd.
Papua New Guinea-based company that rebuffed Australia's Woodside buys LNG rival
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.
