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.

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.