InterOil May Decide on PNG Gas Project as Soon as First Quarter
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InterOil Corp. aims to make an investment decision on a liquefied natural gas project in Papua New Guinea as early as the first quarter of 2011 after raising $266 million to fund ventures in the South Pacific nation.
“We’re in a position to move any time,” Chief Executive Officer Phil Mulacek said in an interview in Sydney today. “We don’t see anything there to prevent it.” The explorer, based in Canada’s Yukon Territory and run from Cairns in Australia, is awaiting the completion of engineering and design work, he said.