The project targets a $7 billion two-train LNG facility, with each train capable of producing approximately 4 million tonnes per annum of LNG. A 358 kilometre, 36 inch feed gas pipeline will be built from the InterOil Elk Gas Field to the plant to transport 1,600 million cubic feet per day needed for the two train plan.
The company expects that natural gas produced will be treated at a conditioning plant in the Gulf Province and then transported to the proposed LNG plant site near its existing refinery at Napa Napa, adjacent to the InterOil refinery in Port Moresby.
InterOil anticipates that the LNG plant will be designed to operate as a tolling facility with the LNG being jointly marketed by the upstream owners on behalf of the joint venture.
The proposed LNG project would be developed by Liquid Niugini Gas, a joint venture company between InterOil, Pacific LNG Operations, Bechtel and ConocoPhillips. The PNG Government will have up to 22.5 per cent equity interest in the project through its nominee, Petromin PNG Holdings.
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