Oil Search enters PNG LNG sale and purchase agreement with Unipec Singapore

Oil Search has advised that the PNG LNG project co-ventures have entered into a mid-term LNG sale and purchase agreement (SPA) with Unipec Singapore Pte Ltd.
This is for the supply of approximately 0.45 million tonnes of LNG per annum (MTPA) over a four-year period commencing this month.
Managing director Peter Botten said; “The SPA with Unipec, which is a wholly-owned subsidiary of Sinopec, one of PNG LNG’s original long-term customers, is the final mid-term LNG SPA that the project has been seeking to secure, following the signing of SPAs last year with Petro-China and BP, totaling 0.9 MTPA over 2018 to 2023.
These SPAs add to the 6.6 MTPA committed under long-term contracts to JERA, Osaka Gas, Sinopec and CPC and take total contracted volumes from the Project to approximately 7.9 MTPA.
Oil Search believes that the PNG LNG Project now has an appropriate mix of long-term contracts, mid-term contracts and sales on the spot market.”
Oil Search has a 29 per cent interest in the PNG LNG Project.

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