Under the agreement, the PNG LNG Project will supply LNG to Osaka Gas for a period of 20 years.

Japanese energy supplier Osaka Gas purchased a total of 7.4 MMt of LNG in 2008.

The PNG LNG Project involves transporting gas from the Hides, Angore, Juha Kutubu, Agogo, Gobe and Moran oil fields to the LNG plant near Port Moresby through 850 kilometres of large diameter pipeline. The first LNG cargo is expected to be shipped in early 2014.

Joint venture partners for the project include ExxonMobil as operator, Oil Search, Santos and Nippon Oil.