Santos ( ASX:STO) and Oil Search ( ASX:OSH) announced on Tuesday that the PNG LNG Project participants have finalised a binding Sale and Purchase Agreement with Osaka Gas ( TYO:9532) for the long-term sale and purchase of liquefied natural gas totaling approximately 1.5 million tonnes per annum. The project will supply LNG to the Japanese company for a period of 20 years. Oil Search's Managing Director Peter Botten said the project participants expect to sign the final offtake agreement, which will see the project being fully contracted for the full 6.6 MTPA plant capacity in early 2010.
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Santos ( ASX:STO) and Oil Search ( ASX:OSH) announced on Tuesday that the PNG LNG Project participants have finalised a binding Sale and Purchase Agreement with Osaka Gas ( TYO:9532) for the long-term sale and purchase of liquefied natural gas totaling approximately 1.5 million tonnes per annum. The project will supply LNG to the Japanese company for a period of 20 years. Oil Search's Managing Director Peter Botten said the project participants expect to sign the final offtake agreement, which will see the project being fully contracted for the full 6.6 MTPA plant capacity in early 2010.