Gas Price Heat Maps

GasBuddy News Article

votes

Exxon finalizes agreements for natural gas project

FORBES.COM -- IRVING, Texas -- Exxon Mobil Corp. said Friday it is has finalized financing and sales agreements so it can begin developing a liquefied natural gas project in Papua New Guinea.

The company said the development positions it and its partners to meet growing energy demand in developing Asian countries.

The project includes gas production and processing facilities, onshore and offshore pipelines with capacity of 6.6 million tons per year.

Exxon, the world's largest publicly traded oil company, said its affiliate, Esso Highlands Ltd., will begin work on the project now that the agreements are complete.

The initial phase is estimated to cost $15 billion and deliveries are to begin in 2014. Funding will come from co-venturers and market-rate loans.

The project is expected to produce more

Read the Full Article

Submitted Mar 13, 2010 By: UncleCurt

Back To News

Category: Daily News Article Discussions > Topics	Add to favorite topics Post New Topic

Author	Topic: Exxon finalizes agreements for natural gas project	Post a Reply Back to Topics

REPLIES (newest first)

First Prev

Next Last

wizzard1222 Champion Author St. Louis Posts:3,718 Points:1,345,140 Joined:Mar 2006	Message Posted: Mar 13, 2010 2:31:59 AM Ignore wizzard1222 Report Abuse Reaching out to more "assets" to bring home !!!!
FocusGuy Champion Author Seattle Posts:2,116 Points:457,375 Joined:Apr 2009	Message Posted: Mar 13, 2010 2:31:19 AM Ignore FocusGuy Report Abuse we ought to be doing it here. are we stupid or un informed?
hwmillerster Champion Author Missouri Posts:1,858 Points:499,915 Joined:Oct 2008	Message Posted: Mar 13, 2010 2:29:07 AM Ignore hwmillerster Report Abuse Natural gas is another source of energy which lessens demand for petroleum and that will counter price rises in oil.
9C1 Champion Author Chicago Posts:17,700 Points:3,280,645 Joined:Jul 2001	Message Posted: Mar 13, 2010 2:28:30 AM Ignore 9C1 Report Abuse Currently the least expensive form of energy is natural gas.
fcdriver Champion Author Tennessee Posts:2,859 Points:601,470 Joined:Sep 2008	Message Posted: Mar 13, 2010 2:27:04 AM Ignore fcdriver Report Abuse who does this help
Hangnail309 Champion Author Manitoba Posts:1,439 Points:760,615 Joined:Aug 2006	Message Posted: Mar 13, 2010 2:25:31 AM Ignore Hangnail309 Report Abuse How will this affect the price of oil?
mfeldstein Champion Author Ottawa Posts:3,742 Points:1,053,415 Joined:Feb 2007	Message Posted: Mar 13, 2010 2:22:04 AM Ignore mfeldstein Report Abuse Diversification is the key to survival. The auto industry should have figureds that out years ago.
jeepman64 All-Star Author Indiana Posts:909 Points:847,660 Joined:Aug 2004	Message Posted: Mar 13, 2010 2:19:01 AM Ignore jeepman64 Report Abuse Industry experts of recently determined that natural gas reserves are 10 times greater than previously estimated. Should results in some stability in pricing.
AvantiMick Champion Author Indiana Posts:8,026 Points:1,603,420 Joined:Dec 2005	Message Posted: Mar 13, 2010 2:18:48 AM Ignore AvantiMick Report Abuse This gas will not see US shores, so no help to us!
gabbygusIN Champion Author Indiana Posts:2,380 Points:598,075 Joined:Oct 2008	Message Posted: Mar 13, 2010 2:16:50 AM Ignore gabbygusIN Report Abuse Hange on natural gas prices will be on the rise next!!
DWME Champion Author Indiana Posts:1,113 Points:215,775 Joined:Aug 2009	Message Posted: Mar 13, 2010 2:16:41 AM Ignore DWME Report Abuse That will be interesting.
BBHybrid Champion Author Pittsburgh Posts:2,623 Points:528,455 Joined:Aug 2008	Message Posted: Mar 13, 2010 2:14:54 AM Ignore BBHybrid Report Abuse at what profit?
checkum Champion Author St. Louis Posts:3,335 Points:662,790 Joined:Jan 2008	Message Posted: Mar 13, 2010 2:11:12 AM Ignore checkum Report Abuse what's this have to do with the high prices at my local pump?
napermike79 Champion Author Twin Cities Posts:2,015 Points:934,505 Joined:May 2001	Message Posted: Mar 13, 2010 2:10:37 AM Ignore napermike79 Report Abuse If they wanted to do a project similar here in the USA, the tree huggers would go nuts.
Helms Champion Author Fort Worth Posts:4,254 Points:1,227,750 Joined:Jun 2005	Message Posted: Mar 13, 2010 2:09:45 AM Ignore Helms Report Abuse try DC if you want hot air.....1600 is the mother lode
turbodog Champion Author Mississippi Posts:1,823 Points:391,150 Joined:Feb 2009	Message Posted: Mar 13, 2010 2:09:22 AM Ignore turbodog Report Abuse benefits all ultimately
naw62 Champion Author Maine Posts:4,560 Points:1,248,795 Joined:Sep 2006	Message Posted: Mar 13, 2010 2:08:52 AM Ignore naw62 Report Abuse Exxon-Mobile will be going nowhere
Zonk Champion Author Michigan Posts:1,588 Points:1,151,590 Joined:Oct 2005	Message Posted: Mar 13, 2010 2:08:03 AM Ignore Zonk Report Abuse Good for the Asian countries.
theawesome1 Champion Author Cleveland Posts:3,661 Points:810,140 Joined:Aug 2005	Message Posted: Mar 13, 2010 2:07:36 AM Ignore theawesome1 Report Abuse No big deal in Ohio as no Exxon or Mobil.
Cruiser340 Champion Author Grand Rapids Posts:7,541 Points:1,818,010 Joined:May 2004	Message Posted: Mar 13, 2010 2:06:05 AM Ignore Cruiser340 Report Abuse a good gas.
tankneverfull Champion Author Charlotte Posts:4,247 Points:830,695 Joined:Apr 2008	Message Posted: Mar 13, 2010 2:05:47 AM Ignore tankneverfull Report Abuse Far away from seeing any actual benefit but the nice part is that it is not oil.
packards42 Champion Author Washington Posts:1,682 Points:306,280 Joined:Feb 2005	Message Posted: Mar 13, 2010 2:03:49 AM Ignore packards42 Report Abuse LNG is clean fuel, It to expensive for the USA, but Japan and Asia can afford it. Yokohama has a receiving terminal right in the middle of town, three triple wall containment vessels. I remember it well as it surprised as I was helping site a similar terminal in Thailand with all kinds of problem in the middle of no where
Lukus Champion Author Halifax Posts:3,509 Points:713,240 Joined:Nov 2007	Message Posted: Mar 13, 2010 2:01:55 AM Ignore Lukus Report Abuse New Guinea should be using Solar power to produce hydrogen not natural gas.
Badmoon Champion Author Massachusetts Posts:3,356 Points:677,990 Joined:Oct 2008	Message Posted: Mar 13, 2010 2:01:39 AM Ignore Badmoon Report Abuse Bigger every year keeps stock holders happy.
MightyDude Champion Author Minnesota Posts:5,356 Points:1,676,295 Joined:Mar 2003	Message Posted: Mar 13, 2010 2:00:37 AM Ignore MightyDude Report Abuse me cornfused ;)
NJColt Champion Author New Jersey Posts:7,860 Points:1,675,505 Joined:Aug 2005	Message Posted: Mar 13, 2010 1:58:00 AM Ignore NJColt Report Abuse Shortly to be followed by "The price of natural gas rises" I'm sure. How long before we start reading THESE articles? What, big oil starting to get their ducks in a row now that they see we are on our way to using alternatives?
RichardoB Champion Author Fayetteville Posts:2,982 Points:1,068,385 Joined:Jun 2007	Message Posted: Mar 13, 2010 1:57:52 AM Ignore RichardoB Report Abuse This will benefit Asia but probably won't affect the US.
Don1222 Champion Author Michigan Posts:6,222 Points:765,105 Joined:Jul 2008	Message Posted: Mar 13, 2010 1:56:42 AM Ignore Don1222 Report Abuse Support alternative fuels. Hydrogen fuel cells.
tomok Champion Author Portland Posts:18,327 Points:1,369,085 Joined:Aug 2006	Message Posted: Mar 13, 2010 1:54:14 AM Ignore tomok Report Abuse Develop Papua New Guinea, get the natural gas flowing and send the money here. It will just take until 2014 to get it built and into production.
dan30thz28 Champion Author New Jersey Posts:1,277 Points:1,056,375 Joined:Feb 2006	Message Posted: Mar 13, 2010 1:52:20 AM Ignore dan30thz28 Report Abuse That sounds good, but unfortunately we don't use any in our home.
MRED3 Champion Author Jacksonville Posts:2,265 Points:443,245 Joined:May 2009	Message Posted: Mar 13, 2010 1:49:10 AM Ignore MRED3 Report Abuse This should like a good idea for the future.
CSharpGuy Champion Author Colorado Springs Posts:4,569 Points:927,610 Joined:Jan 2008	Message Posted: Mar 13, 2010 1:48:43 AM Ignore CSharpGuy Report Abuse Finally, the US is able to export some product over seas.
speedys Champion Author Utah Posts:2,106 Points:1,585,045 Joined:Nov 2005	Message Posted: Mar 13, 2010 1:48:12 AM Ignore speedys Report Abuse This probably won't have much effect on the USA>
BigDogOH Champion Author Cincinnati Posts:3,552 Points:833,365 Joined:Mar 2008	Message Posted: Mar 13, 2010 1:42:59 AM Ignore BigDogOH Report Abuse We have lots of natural gas and oil in this country, government wont let us get it
Cachase1 Champion Author Oklahoma City Posts:6,468 Points:1,404,655 Joined:Aug 2003	Message Posted: Mar 13, 2010 1:41:29 AM Ignore Cachase1 Report Abuse It is good business to be among the first with a new idea.
DJRIO Champion Author Miami Posts:2,495 Points:459,550 Joined:Jan 2008	Message Posted: Mar 13, 2010 1:41:11 AM Ignore DJRIO Report Abuse great
Grismer Champion Author Kitchener-Waterloo Posts:3,712 Points:768,240 Joined:Apr 2008	Message Posted: Mar 13, 2010 1:38:56 AM Ignore Grismer Report Abuse Exxon is an international energy consortium. Such agreements are well in keeping with Exxon's global activities.
skippypa Champion Author Hawaii Posts:3,529 Points:766,090 Joined:Jun 2008	Message Posted: Mar 13, 2010 1:38:54 AM Ignore skippypa Report Abuse At least they are trying to produce more natural gas
OilerFan Champion Author Tulsa Posts:9,219 Points:1,687,930 Joined:Aug 2005	Message Posted: Mar 13, 2010 1:37:51 AM Ignore OilerFan Report Abuse There is a huge abundance of natural gas and so it stands to reason that these companies are going to start looking at them for alternatives to oil. It's about 20 or 30 miles late, but at least they're doing it. I'd like to see us independent from the nations that sponsor terrorism. This doesn't mean that more needs to be done to develop truly alternative fuels. However, the reality is that the alternative fuels not only need to be developed, but efficient and reliable vehicles that can use them.
LocalSpyGuy Champion Author Tampa Posts:2,946 Points:615,390 Joined:Nov 2008	Message Posted: Mar 13, 2010 1:34:44 AM Ignore LocalSpyGuy Report Abuse I hope these oil companies are looking for alternatives to fossil fuels with the same enthusiasm as they are looking for oil and natural gas. If not, they will be out of business by the next decade.
Ringmaster2008 Champion Author Ontario Posts:2,952 Points:503,635 Joined:Apr 2008	Message Posted: Mar 13, 2010 1:34:05 AM Ignore Ringmaster2008 Report Abuse Don't trust Exxon
JCUBE Champion Author Michigan Posts:3,561 Points:950,100 Joined:Aug 2003	Message Posted: Mar 13, 2010 1:33:46 AM Ignore JCUBE Report Abuse And they cry when their 35 billion profit for a quarter doesn't meet expectations????????? Greed at it's finest folks!
cajun57 Veteran Author North Carolina Posts:264 Points:767,465 Joined:Sep 2005	Message Posted: Mar 13, 2010 1:32:23 AM Ignore cajun57 Report Abuse I NEVER use Exxon gas.
Beau2140 Champion Author New York Posts:3,360 Points:681,535 Joined:Oct 2008	Message Posted: Mar 13, 2010 1:32:09 AM Ignore Beau2140 Report Abuse Growing bigger and bigger.
I75at7AM Champion Author Dayton Posts:17,815 Points:1,461,200 Joined:Feb 2006	Message Posted: Mar 13, 2010 1:29:39 AM Ignore I75at7AM Report Abuse $15 Billion investment so that Exxon can sell nat. gas in Asia? How many oil wells could that investment have drilled in the USA ??? Our money going to work overseas. Because of our backward laws in this country!
curlypooh Champion Author New Jersey Posts:4,945 Points:1,036,190 Joined:Apr 2007	Message Posted: Mar 13, 2010 1:29:22 AM Ignore curlypooh Report Abuse The 'monster' grows bigger.
grandmacbc Champion Author Buffalo Posts:1,744 Points:535,155 Joined:Oct 2008	Message Posted: Mar 13, 2010 1:29:13 AM Ignore grandmacbc Report Abuse The US has had vehicles capable of running on natural gas for years but they didn't seem to be able to get the refueling established. Maybe it should be relooked at before the Asians take it over.
murushi Champion Author Ontario Posts:3,080 Points:604,455 Joined:Jul 2008	Message Posted: Mar 13, 2010 1:25:22 AM Ignore murushi Report Abuse Don't like Exxon and won't trust anything they do.
cathevan Champion Author Manitoba Posts:2,133 Points:524,025 Joined:May 2007	Message Posted: Mar 13, 2010 1:22:48 AM Ignore cathevan Report Abuse ok
LittleBlueCarNY Champion Author Albany Posts:1,147 Points:552,730 Joined:Apr 2008	Message Posted: Mar 13, 2010 1:21:34 AM Ignore LittleBlueCarNY Report Abuse We're paying for this!
MertieMan Champion Author Lexington Posts:9,837 Points:1,920,260 Joined:May 2005	Message Posted: Mar 13, 2010 1:17:24 AM Ignore MertieMan Report Abuse With all of our troubles with energy right now, what does this idiotic company do, aid and abet a foreign country. They should be tried for treason.
RoadhogMA Champion Author Boston Posts:2,089 Points:476,625 Joined:Dec 2008	Message Posted: Mar 13, 2010 1:17:11 AM Ignore RoadhogMA Report Abuse Good luck Exxon .