30 C
Port Moresby
April 5, 2020
News Southern

NEC approves Gulf LNG

The National Executive Council has approved Interoil’s LNG development project in the Gulf province.

Prime Minister Peter O’Neill announced on Friday that NEC has approved the establishment of a State negotiating team to discuss amendments to the 2009 project between the state and LNG Limited.

Interoil now looks forward to conclude an agreement for a sale of an interest in the Elk and Antelope resource in Petroleum Retention License 15 to partner or partners in major oil companies nationally and internationally.

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