LNG

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.

Papua New Guinea LNG stakeholder Oil Search posted lower revenues from liquefied natural gas and other sales because of the effects of recovering from the earthquake that struck PNG in February, though production was now back to normal amid progress on LNG expansion.

The Papua New Guinea LNG export plant, operated by US major ExxonMobil Corp., has fully re-started operations and exports with the second processing Train set to ramp up to full capacity during May following a temporary shutdown of operations when associated infrastructure was damaged in the February 26 earthquake.

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.

Australian energy company Santos said that natural gas production at the Papua New Guinea LNG’s Hides gas conditioning plant and the Kutubu gas facilities in the PNG Highlands remained shut down as a precautionary measure, along with the liquefaction plant, following a major earthquake and a series of aftershocks.