Exxon Has Room to Expand Papua New Guinea LNG, Analyst Says
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Exxon Mobil Corp.’s liquefied natural gas project in Papua New Guinea could add a third production line because of the possibility of finding more natural gas, Sanford C. Bernstein & Co. said.
The Hides gas area may contain 50 percent additional deposits compared with currently booked reserves, Bernstein said in a report today. Exxon and Oil Search Ltd. plan to produce 6.6 million metric tons a year of the frozen fuel in 2014 from two production lines at a $15 billion LNG venture.