Pa­pua New Guinea re­sumes LNG ex­ports

Viet Nam News - - WORLD BUSINESS -

SIN­GA­PORE — A liq­ue­fied nat­u­ral gas (LNG) tanker has left Pa­pua New Guinea laden with the first ex­port cargo of the su­per­cooled fuel since the coun­try’s giant LNG project re­sumed pro­duc­tion af­ter a ma­jor earth­quake trig­gered a shut­down in Fe­bru­ary, Thom­son Reuters Eikon ship­track­ing data showed yes­ter­day.

The tanker’s des­ti­na­tion wasn’t im­me­di­ately clear, but the re­sump­tion of ship­ments could put pres­sure on spot LNG prices, traders said.

ExxonMo­bil Corp restarted out­put at the project near the cap­i­tal Port Moresby a fort­night ahead of sched­ule, its Aus­tralian part­ners said late last week.

“We con­firm an LNG cargo has been loaded onto the Ku­mul tanker,” a spokes­woman from ExxonMo­bil told Reuters in an email re­ply.

The 172,000-cu­bic me­tre ca­pac­ity LNG tanker Ku­mul, cus­tombuilt for the PNG LNG project, left the project ter­mi­nal with a draft of 91 per cent, sug­gest­ing it is nearly full, ac­cord­ing to Thom­son Reuters Eikon ship­track­ing data.

The Ku­mul un­loaded an LNG cargo at the PNG ter­mi­nal on April 4. It was an­chored nearby un­til April 14, be­fore load­ing the cargo from the ter­mi­nal on April 15, the data showed.

ExxonMo­bil had said in early April that it had im­ported an LNG cargo to the project’s ter­mi­nal in or­der en­sure tanks at the PNG fa­cil­i­ties re­mained cold.

The 170,000-cu­bic me­tre ca­pac­ity LNG tanker Pa­pua is cur­rently an­chored near the Ku­mul Marine Ter­mi­nal, while the 165,000-cu­bic me­tre ca­pac­ity LNG tanker Bishu Maru is headed to Port Moresby, the Eikon data showed. — REUTERS

Bauer Maschi­nen Gmbh’s con­struc­tion ma­chin­ery on dis­play in Mu­nich, Ger­many. — Photo New­civilengi­

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