Papua New Guinea Drops Fight Against $6B LNG Project

Law360, New York (August 29, 2012, 5:58 PM EDT) -- The Papua New Guinea government has decided to let InterOil Corp.'s $6 billion liquefied natural gas project in the island country move forward, InterOil said Wednesday, after a series of meetings between the company and officials.

InterOil's announcement comes more than three months after the government in May said it would yank the company's license for the Niugini gas project — a 50-50 joint venture with Pacific LNG Operations Ltd. — if InterOil did not bring on an experienced operator to run the plant, in line...
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