The Woodlands, Texas- and Cairns, Australia-based InterOil Corp. (NYSE: IOC) and Liquid Niugini Gas Ltd., its joint-venture company with Pacific LNG Operations Ltd., have entered an agreement with Energy World Corporation Ltd., Hong Kong, (Australia: EWC) to construct a 2-million-tonne-per-annum (Mt/a) land-based LNG plant in the Gulf Province of Papua New Guinea (PNG).  

The Train 1 LNG plant is expected to process an estimated 1.5 trillion cubic feet (Tcf) of gas over 15 years, with early-stage capital expenditure estimates amounting to US$455 per metric tonne of LNG production. The ...