April 2, 2019 / 12:01 AM / 10 months ago

UPDATE 1-Papua New Guinea LNG project to supply Sinopec unit

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April 2 (Reuters) - The ExxonMobil operated Papua New Guinea LNG project has agreed a deal to supply liquified natural gas (LNG) to a unit of China Petroleum & Chemical Corp , Australia’s Santos, a partner in the project, said on Tuesday.

The four-year deal is for the supply of about 0.45 million tonnes of LNG a year to Unipec Singapore, Santos, which holds a 13.5 percent stake in the PNG LNG project, said in a statement.

The deal will take the $19 billion PNG LNG project’s total contracted LNG volumes to about 7.9 million tonnes per annum (mtpa), it said.

“The supply and purchase agreement (SPA) with Unipec ... is the final mid-term LNG SPA that the project has been seeking to secure,” said Peter Botten, managing director at Oil Search , which has a 29 percent interest in PNG LNG.

The project signed similar LNG supply deals with PetroChina Co Ltd and a unit of British oil giant BP last year.

Reporting by Nikhil Subba in Bengaluru; editing by Richard Pullin

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