ExxonMobil is looking to agree sales contracts for spot cargoes to soak up excess production from its liquefied natural gas project in Papua New Guinea, a news report said.
PNG LNG has had high output levels since starting-up two years ago, and its reserve base is currently being re-certified, which could underpin multi-year contracts for future spot cargoes, Reuters reported.
It has sold eight spot cargoes so far this year, six of which went to customers in Japan, the report said.