© Reuters. Exxon plans to market 1.3M tons of LNG from Papua New Guinea plant
- Exxon Mobil ( -0.1%) is marketing 1.3M metric tons/year of mid-term liquefied volumes from its $19B Papua New Guinea LNG plant, reflecting overproduction and an increase in gas reserves, a company executive tells Reuters.
- The two-train plant with an original nameplate capacity of 6.9M tons/year produced 7.9M tons last year, making it possible to offer the excess for sale, according to the exec.
- The move also is possible as XOM said previously that the likely technically recoverable natural gas from all PNG LNG fields is 11.5T cf, 25% higher than an earlier assessment of 9.2T cf.