InterOil and Noble make #LNG deal

Noble Group is set to buy LNG from InterOil and Pacific LNG’s Papua New Guinea LNG project.

Under the heads of agreement, Noble will buy 1 million tonnes of liquefied natural gas a year from the project. The purchase will begin in 2014 for a period of 10 years and negotiations are expected to be finalised at the end of this year.

Daily Markets quoted InterOil CEO Phil Mulacek as saying “We are pleased to have executed our first HOA for LNG off-take from our Gulf LNG Project in Papua New Guinea.”

InterOil and Pacific LNG have set up a joint-venture company called Liquid Niugini Gas to tap the resources of the Elk and Antelope gas fields in PNG. The project includes modular LNG plants contracted with Energy World Corp and a Fixed Floating LNG facility which is being developed by Samsung Heavy Industries and Flex LNG.

Collin Visaggio from InterOil and Henry Aldorf from Pacific LNG Operations will both be speaking at LNG Outlook Australasia, which is being held from November 28-30 in Perth.