PNG LNG Project awarded the 2014 CWC LNG Innovation Asia Pacific Award

SINGAPORE – The PNG LNG Project, operated by ExxonMobil PNG Limited, received
the esteemed CWC
LNG Innovation Asia Pacific Award
last week on Wednesday
24 September 2014, at a glamorous dinner event, hosted by Trafigura, at the SEA
Aquarium on Sentosa Island, Singapore. The award recognizes a company operating
in the Asia Pacific LNG industry that has excelled themselves in the previous
12 months in terms of commercial or technical innovation. 

The PNG LNG Project is a
joint venture between ExxonMobil, Oil Search, National Petroleum Company of
PNG, Santos, JX Nippon Oil and Gas Exploration, Mineral Resources Development
Company and Petromin PNG Holdings. The PNG Government holds a 19.6 percent
stake in the Project.

Mr Yow-Yeen Lee, PNG LNG Senior
Project Manager, accepted the award and said, “I would like to acknowledge and
thank all the people who made this Project a reality—the 55,000 project team
members who collectively worked over 200 million hours; our Project co-venturers;
as well as the many financing entities of commercial banks and export credit
agencies.”

The PNG Project delivered its first LNG cargo on
25 May this year to the Tokyo Electric Power Company (TEPCO) in Japan. It has
since shipped more than 25 cargoes to customers in Asia. It is estimated that
the PNG LNG project will produce more than 9 trillion cubic feet of gas over the
next 30 years.

Delegates
who participated in the 6th
World LNG Series Asia Pacific Summit
(LNG Asia) voted for the
award winner. Participants included
global leaders of the LNG industry and government representatives.  

The 2014 finalists for the awards were:

  1. Singapore LNG Corporation
    Security of gas supply for the Singapore market remains SLNG’s top priority. In
    the past one year, SLNG stabilized commercial operations at the LNG terminal,
    ramping up Throughput Services to cater to about 20% of
    the Singapore gas market. In September 2013, SLNG performed its first LNG ship
    cool-down operation.
  2. Mozambique LNG – Anadarko Petroleum
    Corp. (APC) has inked deals to sell gas from Mozambique at a hybrid price that
    combines Henry Hub and world oil prices and factors in costs for shipping and
    treatment.
  3. Yamal LNG – Owners have taken a
    final investment decision for Yamal LNG. The 16.5-million tonne/year
    liquefaction plant will be built on the Yamal Peninsula on the Kara Sea with
    first-train start-up set for around 2017 and the recent (world first)
    commissioning of 16 icebreaker tankers, each able to transport 170, 000 m³.
  4. Petronas – Reached final
    investment decision for its second floating LNG (FLNG) project. Meanwhile PFLNG
    1 is to be ready for start-up ready around end of 2015
  5. PNG LNG – Successful
    startup  of both trains – with a faster
    ramp up than expected and a move to full contract volumes before the end of the
    year and its maiden shipment to Japan’s Tokyo Electric Power Co.
  6. SEMPRA LNG – FID on 3 trains at
    Cameron using a successful project structure that led to 100% of the output
    sold and the single largest project finance deal in the United States history

Selection of the award candidates was based
upon the company that has made a positive commercial or technical contribution
to the LNG business over the last year in one or more of the following areas:

  • Innovation –
    through technical or commercial innovation, the organisation which has made a
    positive change to the industry in the Asia Pacific region
  • Activities –
    through activities, the organisation which has made an outstanding contribution
    to the industry and shown itself to be an industry leader in any specific part
    of the LNG chain in the Asia Pacific region
  • Knowledge –
    through development of people, the organisation that has expanded knowledge and
    learning within commercial or technical aspects of the LNG industry in the Asia
    Pacific region

About The World LNG Series: Asia Pacific Summit

The World LNG Series: Asia Pacific Summit is organized by The CWC Group, twice winner of the Queen’s Award for Enterprise. CWC has a 16-year track-record in delivering energy events and training globally, focused on Oil & Gas Exploration & Production, LNG, GTL, Shale Gas, Local Content, O&G Logistics & Technology, Infrastructure and Water Management.

The company has organized over 600 events in the past 16 years, to which they attribute their unparalleled wealth and depth of experience. CWC is the acknowledged market leader for events and training in the oil and gas industry. With representative offices and agents in Europe, Asia Pacific, Africa, Middle East and the Americas, CWC is supported by a team of 140 employees based at their headquarters in London, England.

Contacts

The CWC Group
Roshan Jan-Mahomed

Senior Marketing Manager, LNG & Gas Portfolio
CWC Group
rjanmahomed@thecwcgroup.com
+ 44 207 978 0018
Website: www.thecwcgroup.com

Press Contact
Illka Gobius
PINPOINT Public Relations
illka.gobius@pinpoint-pr.net
+65 9769 8370

Advertisements