Liquid Niugini condensate output 60,000 bpd by 2016

SINGAPORE, June 1 (BestGrowthStock) – Condensate output from the
Liquid Niugini gas project in Papua New Guinea is expected to
reach 60,000 barrels per day (bpd) by 2016, Henry Aldorf,
president of Pacific LNG Operations, said on Tuesday.

This will coincide with the completion of two liquefaction
trains with a capacity of 4 million tonnes per year (tpy) each,
he said at an industry conference.

“Hydrocarbon prices especially liquids are much higher
now,” he said, adding that the company and its partner in the
gas project, Canadian oil firm InterOil Corp (IOC.N: ), aimed to
maximise cash flow from liquid hydrocarbons at the Elk and
Antelope gas fields.

A condensate splitter of around the same capacity will also
be built, he said at the LNG Outlook Asia 2010 conference.

InterOil said in mid-April it struck a joint venture deal
with Mitsui & Co Ltd (8031.T: ) to build a condensate stripping
facility.

About 9,000 bpd of condensate from the unit, which is under
construction, will be barged to the InterOil refinery in Port
Moresby for processing and sale. [ID:nSGE63E0JL]

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(Reporting by Florence Tan; Editing by Ramthan Hussain)
([email protected]; + 65 6870 3497; Reuters
messaging: [email protected]))

Liquid Niugini condensate output 60,000 bpd by 2016