InterOil Corp. and Pacific LNG Operations Ltd. have signed a Heads of Agreement (HOA) with Noble Clean Fuels Limited, for the supply of one million tonnes per annum (mtpa) of Liquefied Natural Gas (LNG) from the Gulf LNG Project in Papua New Guinea. The Gulf LNG Project in Papua New Guinea (PNG) is made up of the Elk and Antelope gas fields and Liquid Niugini Gas Ltd., the InterOil and Pacific LNG joint-venture project company, with modular LNG plants contracted with Energy World Corp. Ltd. and a Fixed Floating LNG facility being developed with Flex LNG Ltd. and Samsung Heavy Industries Co., Ltd. The HOA outlines the parties’ intention to conclude terms for the purchase and sale of one mtpa of LNG, for a period of 10 years beginning in 2014, to be provided by the proposed Gulf LNG Project in PNG. InterOil and Pacific LNG hope to complete negotiations and execute binding agreements with Noble later this year.
