Partners of the ExxonMobil-led PNG LNG venture have secured sales deal for the terminal to be built by 2013. A first agreement signed in November 2009 includes the supply of 2.7 bcm/year of LNG to Sinopec through its subsidiary Unipec Asia. A second purchase agreement was signed in December 2009 with Tepco for 2.5 bcm/year during a 20-year period. Another sale deal was signed with Osaka Gas for 2 bcm/year during 20 years. The joint venture has completed an agreement with CPC Corp. of Taiwan for the sale of 1.6 bcm/year of LNG for 20 years, meaning all the projects production capacity has been committed to long-term agreements. The LNG facility, planned to start operations by 2014, will have a capacity of 8.9 bcm/year and will be supplied from the Hides gas field owned by Santos. The project, estimated at $15bn, includes ExxonMobil (operator) (33.2%), Oil Search 29%), Independent Public Business Corporation (16.6%), Santos (13.5%), Nippon Oil (4.7%). In October 2009, the Government of Papua New Guinea (Department of Environment and Conservation) had approved the project's Environment Impact Statement while the final investment decision was taken in December 2009.
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