Exxon maintains PNG LNG restart timetable despite ramping up activity
Apr. 5, 2018 10:11 AM ET|By: Carl Surran, SA News Editor
Exxon Mobil (XOM +1.3%) is sticking to its initial restart plan for its Papua New Guinea liquefied natural gas plant in the second half of April, despite activity ramping up at the site, including the delivery of a cooling cargo and the imminent arrival of an unloaded project vessel at the facility.
Platts reports that the LNG carrier Kumul arrived at PNG LNG April 1, with the purpose of maintaining the temperature of the facility's tanks and loading infrastructure, and avoiding a lengthy re-cooling period once production restarts.
Also, the LNG tanker Papua is said to be heading for PNG LNG at close to full speed, possibly to be ready to load once an export cargo is available.
PNG LNG closed on Feb. 26 due to a 7.5-magnitude earthquake in the country.
Project participant Oil Search (OTCPK:OISHF) said earlier this week that its central processing facility, which also shut because of the earthquake and is integral to the operation of PNG LNG, has resumed operations.
OSH Price at posting:
$7.24 Sentiment: None Disclosure: Held
