Sinopec keen for more PNG LNG deals

 SINOPEC, a Chinese foundation LNG buyer of PNG LNG with two million tonnes per annum on a 20-year contract, is again very keen on more long-term contracts that are about to enter front end engineering design (feed) mid this year.

Papua New Guinea Petroleum Minister Kerenga Kua

Papua New Guinea Petroleum Minister Kerenga Kua accompanied Prime Minister James Marape and held a separate meeting to discuss various aspects of petroleum business in PNG and how best Sinopec can partner in the opportunities in upstream and downstream processing, as well as their interest to buy LNG from Papua LNG and the P’nyang gas development project.

Kua said Sinopec also expressed strong interest in upstream participation for current projects, as well as new licences.

He pledged to help with their entry into PNG’s petroleum industry in a broader intent and urged them to partner with PNG’s national oil company, Kumul Petroleum Holdings Ltd.

Kua was accompanied by Kumul Petroleum managing director Wapu Sonk, who will now follow through on Sinopec’s request.

The National / Pacific Mining Watch

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