Papua New Guinea liquefaction developer InterOil expects to pencil in more sales agreements within the next few months.
Conrad Kerr, head of LNG marketing and trading for InterOil and Pacific LNG joint venture Liquid Niugini Gas, said in a results briefing: “We expect to have two or three more buyers for the rest of our supplies, currently up to 5 million tonnes, and we’re actively trading paper with more than one.”
He added: “I’m looking forward to the announcement of a couple more heads of agreement by the end of the year.”
Chief executive Phil Mulacek said the project, which tied up an initial agreement with Noble Clean Fuels for 1 million tonnes per annum last week, currently has around 20 million tonnes of interest on its remaining volumes. A portion will be held for spot trades.
Parallel discussions on equity participation in the project are under way with some of those parties interested in off-take, he added.
A final investment decision is scheduled for the year-end.
