Santos today announced that the PNG LNG Project participants have finalised a binding Sale and Purchase Agreement with Osaka Gas for the long-term sale and purchase of liquefied natural gas (LNG) totaling approximately 1.5 million tonnes per annum.
Under the agreement, the PNG LNG Project will supply LNG to Osaka Gas for a period of 20 years.
A copy of the PNG LNG Project’s operator’s news release is attached to this release.
About PNG LNG
The PNG LNG Project is an integrated development that includes gas production and processing facilities, onshore and offshore pipelines and LNG plant facilities with a capacity of 6.6 million tonnes per annum. Santos has a 13.5% interest in PNG LNG. Other participants are entities of ExxonMobil (33.2% and operator), Oil Search (29%), Independent Public Business Corporation (PNG Government, 16.6%), Nippon Oil Exploration (4.7%), Mineral Resources Development Company (PNG landowners, 2.8%) and Petromin PNG Holdings Limited (0.2%).