"We are pleased to have executed our first HOA for LNG offtake from our Gulf LNG project in Papua New Guinea," InterOil chief executive officer Phil Mulacek said.
Gulf LNG, a joint venture between InterOil subsidiary Liquid Niugini Gas and Pacific LNG, will use modular 500,000 tonne per annum trains as the basis of a 3MMtpa plant.
The plant will be wholly funded by Energy World Corporation in exchange for a 14.5% share of proceeds from the sale of LNG.
It will be developed in two phases with the first phase having a total capacity of 2MMtpa and the second, which will follow immediately, having capacity of 1MMtpa.
The plant will use gas from InterOil's Elk and Antelope fields as feedstock.
Noble Clean Fuels is a wholly owned subsidiary of global commodities trading company Noble Group.