This agreement sets out the basis upon which the parties intend to negotiate and document terms for the purchase and sale of LNG for a period of 15 years beginning in 2015.
The Gulf LNG Project includes the Elk and Antelope gas fields and the planned liquefaction and associated facilities in the Gulf Province which will be developed by Liquid Niugini Gas, InterOil and Pacific LNG’s joint-venture project company.
InterOil and Pacific LNG intend to complete negotiations and execute a binding sales and purchase agreement with Gunvor by the second quarter of 2012.
