important article for csg producers

I thought this article would be of interest for CSG producers like BOW :

**** Sinopec signs deal to buy 2Mtpa of PNG LNG output ***

PERTH, Nov 4 AAP - The Papua New Guinea liquefied natural gas (PNG LNG) joint venture plans to sell two million tonnes per annum of LNG from the project to a Chinese energy giant.

The ExxonMobil-led joint venture announced on Wednesday a heads of agreement with Unipec Asia Co Ltd, a subsidiary of China Petroleum & Chemical Corporation, also known as Sinopec.

"The PNG LNG project participants are working with Sinopec to finalise a binding sale and purchase agreement," ExxonMobil said in a statement on Tuesday.

"With this agreement in place, the PNG LNG project is now
conducting exclusive discussions with major Asian LNG customers forbinding sales and purchase agreements covering the full capacity,"

ExxonMobil's vice president of gas and power marketing Ron Billings said.

ExxonMobil said a final decision to proceed with the project was on track for later this year. Peter Botten, managing director of joint venture partner Oil Search Ltd, last month said the total project cost was likely to be
between $US17 billion ($A18.83 billion) and $US17.5 billion ($A19.38 billion).

AAP rlm/lk