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Chinese demand spurs LNG investment in Papua New Guinea

ExxonMobil and partners set to spend $9 billion to expand export capacity

A tanker loads LNG at ExxonMobil's PNG LNG plant off Port Moresby. (Courtesy of Oil Search)

DENPASAR, Indonesia Strong growth in gas demand from China is set to trigger a new round of major investment in cash-strapped Papua New Guinea.

ExxonMobil of the U.S. and Total of France, along with Australia-listed Oil Search, are expected to finalize plans next year for more than $9 billion in investment to expand export capacity of liquefied natural gas in the resource-rich South Pacific nation.

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