PNG LNG is an integrated development that includes gas production and processing facilities in the Hela, Southern Highlands and Western Provinces of Papua New Guinea, including liquefaction and storage facilities (located northwest of Port Moresby on the Gulf of Papua) with capacity of 6.9 million tons per year. There are over 700 kilometers (450 miles) of pipelines connecting the facilities.
The investment for the initial phase of the Project is estimated at US$19 billion (excluding Port Moresby administration facilities and shipping costs). Over the life of the Project, it is expected that over nine trillion cubic feet of gas will be produced and sold.
PNG LNG will provide a long-term supply of Liquefied Natural Gas to four major LNG customers in the Asia region including: China Petroleum and Chemical Corporation (Sinopec), Osaka Gas Company Limited, The Tokyo Electric Power Company Inc., and CPC Corporation.
The Project will progress in a series of development phases with the first LNG deliveries scheduled to begin in 2014.