Papua New Guinea to Renegotiate the Gas Agreement with Exxon Mobil Corp

Papua New Guinea (or PNG) is set to break a deal with Exxon Mobil Corp concerning to the better terms for the state related to the P’Nyang Gas Project– says the Petroleum Minister- Kerenga Kua.

  • The minister also mentioned that all things are going in line, and PNG would sign a gas agreement by the end of the month.
  • The project would further expand the PNG LNG plant of Exxon, in which the Australian oil & gas explorers Oil Search Limited (ASX: OSH) and Santos Limited (ASX: STO) also hold stakes.

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