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A logo of the Exxon Mobil Corp is seen at the Rio Oil and Gas Expo and Conference in Rio de Janeiro, Brazil September 24, 2018. REUTERS/Sergio Moraes
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MELBOURNE, Feb 22 (Reuters) – The Papua New Guinea government, Exxon Mobil Corp (XOM.N) and its partners have signed an agreement clearing the way for the development of the P’nyang gas field, ending years of uncertainty over the project.
“The signing of the gas agreement marks a major milestone for the project, setting out the fiscal framework and supporting project scoping and evaluation,” Santos Ltd (STO.AX), one of the project partners, said in a statement.
Gas from P’nyang is slated to feed Exxon’s PNG LNG plant when its existing gas sources run out. The plant last year produced 8.4 million tonnes of liquefied natural gas for export.
Exxon Mobil spokespersons were not immediately available to comment.
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Reporting by Sonali Paul in Melbourne and Indranil Sarkar in Bengaluru; Editing by Kim Coghill
Our Standards: The Thomson Reuters Trust Principles.
A logo of the Exxon Mobil Corp is seen at the Rio Oil and Gas Expo and Conference in Rio de Janeiro, Brazil September 24, 2018. REUTERS/Sergio MoraesRegister now for FREE unlimited access to Reuters.comMELBOURNE, Feb 22 (Reuters) – The Papua New Guinea government, Exxon Mobil Corp (XOM.N) and its partners have signed an agreement clearing the way for the development of the P’nyang gas field, ending years of uncertainty over the project.”The signing of the gas agreement marks a major milestone for the project, setting out the fiscal framework and supporting project scoping and evaluation,” Santos Ltd (STO.AX), one of the project partners, said in a statement.Gas from P’nyang is slated to feed Exxon’s PNG LNG plant when its existing gas sources run out. The plant last year produced 8.4 million tonnes of liquefied natural gas for export.Exxon Mobil spokespersons were not immediately available to comment.Register now for FREE unlimited access to Reuters.comReporting by Sonali Paul in Melbourne and Indranil Sarkar in Bengaluru; Editing by Kim CoghillOur Standards: The Thomson Reuters Trust Principles.