PNG signs huge gas project
Updated
Papua New Guinea and Exxon Mobile, the developer of PNG's first LNG gas project have formally signed a Gas Agreement in Port Moresby.It proposes to commercialise vast gas reserves in the PNG highlands.Liquefied natural gas will be piped 20 kilometres to an LNG plant north west of Port Moresby.Project developer Exxon Mobile says it will go into the engineering phase with a final investment decision expected later in 2009.PNG's Petroleum Minister, William Duma says the project will generate up to 5 billion US dollars a year, and is expected to last 30 years.
Presenter:Firmon Nanol
Speaker:PNG Petroleum Minister, William Duma
B/A…P-N-G's Petroleum Minister, William Duma speaking there with our reporter in Port Moresby, Firmin Nanol.
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