08-02-2013, 09:27 PM
Exxon eyes ‘rapid’ expansion
Blair Price
Friday, 2 August 2013
EXXONMOBIL aims to expand the PNG LNG project as quickly “as possible” as negotiations advance with InterOil.
The PNG LNG joint venture's logo
As part of Exxon’s June quarter earnings call, Exxon vice president of investor relations David Rosenthal fielded a few questions relating to Papua New Guinea.
While he did not want to hint when a possible third train for PNG LNG could be sanctioned, he said there was plenty of land space and infrastructure at its plant site.
“So we certainly have the ability to as rapidly as possible expand that facility over the course of the next few years,” he said.
The VP also touched on Exxon’s exclusive negotiations to obtain a 4.6 trillion cubic feet of gas stake of InterOil’s Elk-Antelope discoveries in Gulf province.
“We are also advancing expansion opportunities including negotiations with InterOil Corporation and Pacific LNG on the future development of the Elk Antelope resource,” Rosenthal said.
“Major terms have already been agreed and should negotiations successfully conclude, ExxonMobil is proposing that 4.6Tcf of the gas resource from the Elk Antelope field be used to underpin the construction of an additional train at the PNG LNG project site, subject to partner and government agreement.”
Blair Price
Friday, 2 August 2013
EXXONMOBIL aims to expand the PNG LNG project as quickly “as possible” as negotiations advance with InterOil.
The PNG LNG joint venture's logo
As part of Exxon’s June quarter earnings call, Exxon vice president of investor relations David Rosenthal fielded a few questions relating to Papua New Guinea.
While he did not want to hint when a possible third train for PNG LNG could be sanctioned, he said there was plenty of land space and infrastructure at its plant site.
“So we certainly have the ability to as rapidly as possible expand that facility over the course of the next few years,” he said.
The VP also touched on Exxon’s exclusive negotiations to obtain a 4.6 trillion cubic feet of gas stake of InterOil’s Elk-Antelope discoveries in Gulf province.
“We are also advancing expansion opportunities including negotiations with InterOil Corporation and Pacific LNG on the future development of the Elk Antelope resource,” Rosenthal said.
“Major terms have already been agreed and should negotiations successfully conclude, ExxonMobil is proposing that 4.6Tcf of the gas resource from the Elk Antelope field be used to underpin the construction of an additional train at the PNG LNG project site, subject to partner and government agreement.”