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PNG LNG completes operational test period

LNG Industry,

ExxonMobil PNG has announced the successful completion of the PNG LNG project’s 120-day operational test period.

This test period is one of several tests required, and is an important milestone towards satisfaction of the financial completion tests set forth in the project’s financing arrangements.

After financial completion has been achieved, guarantees will be released, loan repayments will commence, and co-venture distributions will be permitted.

A consortium of banks and export credit agencies has provided financing for the project.

Adapted from press release by Katie Woodward

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