ExxonMobil completes PNG LNG operational testing at LNG facility

Submitted by Paddy Harris on Tue, 2015-01-20 12:15

20th January 2015

ExxonMobil PNG Limited, operator of the PNG LNG Project, has advised that the 120-day operational test for the LNG facilities has been successfully completed

The PNG LNG Plant produces approximately 6.9 million tonnes per annum (MTPA) of LNG at capacity

This is just one of several tests required, and is an important milestone towards satisfaction of the financial completion tests set forth in the project’s financing arrangements.

The other outstanding lender completion requirements to achieve financial completion remain on schedule to be satisfied in the first quarter of 2015, after which loan repayments and co-venture distributions will commence.