AGL has a 3.6% participating equity interest in the Papua New Guinea liquefied natural gas (PNG LNG) project, which has been set up as an integrated venture with ExxonMobil with a 41.6% stake, Oil Search with 34.1%, Santos with 17.7%, Nippon Oil with 1.8% and landowner interests at 1.2%.
Michael Fraser, AGL managing director, said: The signing of this agreement is an important step towards a positive front-end engineering and design (FEED) decision following which AGL will consider options for disposing of its interests in its PNG oil and gas properties.
