InterOil To Build $7B LNG Plant In Papua New Guinea

Law360, New York (December 10, 2009, 1:58 PM EST) -- Australian oil and gas company InterOil Corp. has announced plans to build a $7 billion liquefied natural gas production plant in Papua New Guinea, adding a new component to substantial drilling operations already in place there.

In a 6-K filing with the U.S. Securities and Exchange Commission on Thursday, Cairns, Australia-based InterOil said it had already gained approval for the project from Papua New Guinea's government, which would hold a 22.5 percent equity interest in the plant through state-run nominee Petromin PNG Holdings Ltd.

InterOil, which...
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