Pair bags PNG FLNG study
Papua New Guinea’s state player Petromin PNG has signed a floating liquefied natural gas (FLNG) deal with a joint venture between South Korea’s Daewoo Shipbuilding & Marine Engineering and Norway’s Hoegh LNG.
The trio will team up to perform a joint feasibility on developing gas reserves in the Gulf of Papua including Interoil-operated Elk-Antelope project, using a LNG floating production, storage and offloading vessel.
The LNG FPSO will be designed to process up to 3 million tonnes of LNG a year.
A final investment decision will be made by year-end on the LNG FPSO project. Construction is expected to take place at DSME’s yard in South Korea and will take about four years to complete.
Tuesday 20 July 2010
Upsteam
