InterOil and Noble sign heads of agreement on LNG sale

InterOil and Pacific LNG announced the signing of a Heads of Agreement (HOA) with Noble Clean Fuels Ltd. a wholly owned subsidiary of Noble Group Limited, for the supply of 1 million tpa of LNG from the Gulf LNG Project in Papua New Guinea.

The Gulf LNG Project in Papua New Guinea (PNG) comprises the Elk and Antelope gas fields and Liquid Niugini Gas Ltd., the InterOil and Pacific LNG joint-venture project company, with modular LNG plants contracted with Energy World Corp. Ltd. and a Fixed Floating LNG facility being developed with Flex LNG Ltd. and Samsung Heavy Industries Co., Ltd.

Under the agreement, Noble will buy 1 million tpa of LNG from the joint venture for a period of ten years, commencing in 2014.

InterOil Chief Executive Officer Phil Mulacek commented, “We are pleased to have executed our first HOA for LNG off-take from our Gulf LNG Project in Papua New Guinea. InterOil is proud to work with the Noble Group, which has a proven track record of providing long-term fuel supply to major utilities across Japan, Korea, China, and Asia as a whole.”

Read the article online at: https://www.oilfieldtechnology.com/drilling-and-production/03082011/interoil_and_noble_sign_heads_of_agreement_on_lng_sale/