CPC seals Papua New Guinea gas contract

Taipei: Taiwan's state oil supplier said Tuesday it has sealed a 20-year contract with Papua New Guinea to import the last available tranche of liquefied natural gas as Taipei looks to diversify overseas energy sources.
CPC Corp said that under the agreement it will import 1.2 million metric tonnes of LNG from ExxonMobil's Papua New Guinea project each year beginning from December 2013.
The deal means that all of Papua New Guinea's nascent LNG supplies are now tied up for the next 20 years. [03/03/10]