Papua New Guinea To Ax $6B LNG Project, InterOil Says

Law360, New York (May 14, 2012, 7:34 PM EDT) -- Papua New Guinea energy officials are planning to cancel a $6 billion liquefied natural gas project if InterOil Corp., the project’s operator, does not bring a more experienced LNG operator on board soon, InterOil said Monday.

The news comes eight months after the country’s Department of Petroleum and Energy demanded revisions to plans for the Niugini gas project, which InterOil owns in a 50-50 joint venture with Pacific LNG Operations Ltd.

The company has come under fire from Papua New Guinea officials for failing to abide...
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