Market

LNG

The global LNG market is growing rapidly. Forecasts indicate that worldwide LNG demand will grow at over 10 percent annually to 2015, compared to projected annual growth of two percent for oil or traditional gas market demand.

Papua New Guinea is perfectly positioned geographically to supply either Asian or US markets.

Merrill Lynch Commodities supports Liquid Niugini Gas with its powerful global platform, marketing network and innovative world-class financial structuring capabilities. Merrill Lynch will underwrite market off-take of at least the first two trains of production, giving Liquid Niugini Gas guaranteed market to move the project forward and support financing.

"Merrill Lynch is excited to be participating in the development of the vast gas resources of Papua New Guinea," says Dick Jefferis, Merrill Lynch Commodities' Managing Director - Structured Transactions.

Merrill Lynch will initially focus on Asian and US markets on behalf of the Project.

LPG and oil condensate

Liquid Niugini Gas’s NGL extraction plant will process wet gas feedstock at the Napa Napa site, producing LPG and oil condensate for export.