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ExxonMobil To Build LNG Gas Plant In Papua New Guinea

Exxon isn't in talks with a rival LNG venture in the Pacific nation...

Exxon Mobil Corp., is likely to build a liquefied natural gas plant in Papua New Guinea.

Exxon will examine the viability of an LNG plant at the same time as Exxon's partners in Papua New Guinea gas fields, AGL Energy Ltd. and Oil Search Ltd., study a revised plan to build a pipeline to Australia, Peter Graham, project executive at Exxon Mobil Development, said today in Sydney.

Both assessments will be completed "in the near term,'' he said.

Exxon isn't in talks with a rival LNG venture in the Pacific nation let by PNG LNG Inc., a venture including InterOil Corp. and Merrill Lynch & Co.'s commodities unit, Graham said.