LNG

Papua New Guinea’s liquefied natural gas expansion seems to have moved to the back of the line for ventures likely to make progress in the next two years as its hold-ups came before the most recent industry challenges led companies to defer multiple projects.

Oil Search, one of the main stakeholders in the Papua New Guinea LNG plant, said the finalization of the expansion plan is expected to be announced at this week’s Asia-Pacific Economic Cooperation (APEC) meetings in Port Moresby.

ExxonMobil Corp., operator of the Papua New Guinea liquefied natural gas export plant near Port Moresby, has announced a more than 80 percent increase in estimated reserves in a key natural gas field underpinning the LNG expansion in the Oceania nation and said it would have a lasting economic impact for the people of PNG.

Papua New Guinea LNG plant stakeholder Santos of Australia said the facility and its associated infrastructure would be closed for around eight weeks to complete repairs and restore production following the February 26 earthquake in the Southern Highlands and Hela Provinces of the Oceania nation.

Oil Search, the Papua New Guinea company said its LNG business was moving forward as it enters into a joint venture in Alaska in January prior to buying some or all of the assets of US independent Armstrong Oil and Gas (AOG), developer of the Alaskan North Fork natural gas field on the Kenai Peninsula in 2007 and holder of North Slope interests.

Chinese shipbuilding company Wison Offshore & Marine said it signed an accord with US energy and LNG engineering company KBR to cooperate on an LNG project for a state-run company in Papua New Guinea involving the construction of a floating liquefaction hull.