Last Updated :
08 September 2009 at 18:15 IST
IOC sets-out report for planned LNG project in PNG
Commodity Online Inter Oil Corp. (NYSE:IOC) and its partners Petromin PNG Holdings Ltd. and Pacific LNG Operations Ltd. have submitted a project agreement to the Government of Papua New Guinea (PNG) for the construction of a proposed liquefied natural gas (LNG) plant in Port Moresby.
Trading platform that even a 5 year old can trade. Join now Inter-Oil Corp. is an integrated energy company operating in Papua New Guinea operating in four business segments. viz. Upstream, Midstream, Downstream and Corporate.
The proposed LNG project anticipates a US$6.0 billion 2-train LN facility with each train capable of producing around 4 mt of LNG/annum, and current plans target 1st production of LNG by the end of 2014 or early 2015. It may also face competitive investment returns in comparison to other projects under consideration in the region.
Notably, at least 5,000 jobs shall be created at peak construction of the Inter-Oil facility. IOC gained 4.46% while closing at 30.71 at New York Stock Exchange on Friday.
NCDEX TURMERICNIZAMABADJUN12 20 June 2012
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