PNG LNG project finalises LNG sales with Taiwan's CPC

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Tue Mar 2, 2010 2:30am GMT

PERTH, March 2 (Reuters) - The gas export project in Papua New Guinea has sealed a binding gas sales agreement with Taiwan's CPC Corp, making the project fully contracted and clearing the way for a financial close, project partner Oil Search Ltd (OSH.AX) said.

CPC will buy 1.2 million tonnes of liquefied natural gas (LNG) a year from the ExxonMobil-led (XOM.N) PNG LNG project for a period of 20 years, Oil Search said in a statement on Tuesday. (Reporting by Fayen Wong)

Source: http://uk.reuters.com/article/idUKSYU00946420100302

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