Subscribe to our news feedPapua New Guinea Project: ExxonMobil finalises sales deal
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Published on Saturday 12th December 2009
Energy company ExxonMobil has finalised a gas sales deal with Japans Tokyo Electric Power (TEPCO) for the Papua New Guinea Project. Operator of the project ExxonMobil said in a statement that TEPCO has entered a contract for the purchase of 1.8 million tonnes per year of gas for a period of 20 years. TEPCO also recently signed an agreement with Chevron Corp for the delivery of 4.1 million tonnes of gas from the Wheatstone project offshore Australia. Prior to the deal with TEPCO ExxonMobile had finalised a sales deal with Sinopec, a unit of China Petroleum & Chemical Corp. The company will buy two million tonnes of gas a year annually from the Papua New Guinea Project. This second sales agreement made by ExxonMobil regarding the project has meant that 6.6 million tonnes of annual gas output has been contracted. It is expected the Papua New Guinea Project will ship its first cargo in late 2013 or early 2014. 
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