Oil Search announces PNG LNG sales agreement with Unipec

Company News

by Rachael Jones

Oil Search (ASX:OSH) reports that the Papua New Guinea LNG project co-venturers have entered into a mid-term LNG sale and purchase agreement with Unipec Singapore.

Unipec Singapore operates as a distributor and markets oil products and natural gas in Asia-Pacific region.

It's a wholly-owned subsidiary of Sinopec which is one of PNG LNG’s original long-term customers.

The sale is for the supply of approximately 0.45 million tonnes of LNG per annum over a four-year period commencing in April 2019.

Oil Search has a 29 per cent interest in the PNG LNG Project. Santos (ASX:STO) has a 13.5 per cent interest in PNG LNG.

Shares in Oil Search (ASX:OSH) trading 1.77 per cent higher at $8.04.

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