The cost of Exxon Mobil's massive gas export project in Papua New Guinea will soar more than 20 percent to $19 billion due to foreign exchange impacts and delays from work stoppages and land access issues, but it is still expected to start in 2014.One wonders what kind of energy projects we could see in the US if we had a business-friendly / energy-focused administration. Nothing like this is going to happen in the US under Mr Obama's watch. Sad.
Exxon's Papua New Guinea liquefied natural gas plant, known as PNG LNG, is the country's biggest-ever resource undertaking and is expected to boost GDP by 20 percent. The gas export project spans a large portion of the island nation and will pipe gas hundreds of kilometers to an LNG export plant near the capital in Port Moresby.
Saturday, November 10, 2012
Look At The Size of This XOM Project in Papau New Guinea
Link here to Reuters.
Posted by Bruce Oksol at 10:44 AM