By LNG World News Image courtesy of Oil SearchThe ExxonMobil-operated PNG LNG plant reached its highest average annualized production rate since production commenced, of approximately 8.3 mtpa, during the fourth quarter 2016.
This is 20 percent above the nameplate capacity of 6.9 mtpa, Oil Search,theownerofa29percentstake inthe project, said in its quarterly report, adding that 28 LNG cargoes were sold during the period, 24 under long-term contract and four on the spot market, with two cargoes on the water at year end.
For the 2016 full year, 108 LNG cargoes were sold, comprising 89 under long-term contract and 19 on the spot market, with two cargoes on
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