Santos: Third Train Likely for PNG LNG

Santos of Australia said recent gas discoveries around the Hides gas field have made a third train at the Papua New Guinea LNG project more likely, Reuters reported, citing Santos chief executive David Knox.

“There’s a good prospect that we’ll have a train 3, it’s hard to tell when,” he said.

The PNG LNG Project will develop the gas and condensate resources in the Hides, Angore and Juha fields and the associated gas resources in the currently operating oil fields of Kutubu, Agogo, Gobe and Moran in the Southern Highlands and Western Provinces of PNG.

The gas will be transported by pipeline to an LNG facility with a capacity of 6.6 mtpa, 20 kilometres northwest of Port Moresby on the coast of the Gulf of Papua.

Santos has a 13.5% interest in PNG LNG. Other participants are entities of ExxonMobil (33.2% and operator), Oil Search (29%), National Petroleum Company of PNG (PNG Government,16.8%), Nippon Oil Exploration (4.7%), and Mineral Resources Development Company (PNG landowners, 2.8%).

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LNG World News Staff, May 15, 2012; Image: Oil Search