September 26, 2019 / 3:22 AM / 21 days ago

PNG seeks better terms from Exxon on P'nyang gas than Total's Papua LNG

TOKYO, Sept 26 (Reuters) - Papua New Guinea will press for better terms from Exxon Mobil Corp on its P'nyang gas project than the government secured in a recent agreement with Total SA for its Papua LNG project, the country's petroleum minister said.

"It has to be better. It has to be far better. That's the key point," Petroleum Minister Kerenga Kua told Reuters on the sidelines of an LNG conference in Tokyo on Thursday, referring to negotiations for an agreement to develop the P'nyang field.

P'nyang will help feed an expansion of Exxon's PNG LNG plant, part of a $13 billion plan with Total to double Papua New Guinea's liquefied natural gas exports to 16 million tonnes a year from the mid-2020s. (Reporting by Jessica Jaganathan, writing by Sonali Paul; Editing by Himani Sarkar)

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