Pac LNG definition

Pac LNG means Pacific LNG Operations Ltd., a company incorporated under the laws of the Bahamas and affiliated with Clarion Finanz A.G. This company is our joint venture partner in the LNG Project (holding equal voting shares in PNG LNG), holds a 2.5% direct interest in the Elk and Antelope fields, is an IPI holder and a majority shareholder in PNGDV.
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Examples of Pac LNG in a sentence

  • The PFCA and Shareholder Agreement with EWC are conditional on reaching final investment decision to proceed with the LNG plant no later than March 31, 2012.On April 11, 2011, the Company and Pac LNG executed a conditional framework agreement with FLEX LNG and Samsung Heavy Industries related to the construction and operation of a two mtpa floating LNG processing vessel.

  • Oil Search advises that the independent gas certification of the Elk-Antelope fields, located in PRL 15 (Oil Search – 22.8%) commenced on 13 March 2016, in line with the agreement between Oil Search and the Pac LNG Group Companies relating to the Company’s acquisition of its interest in PRL 15 in early 2014.Two world-class certifiers, Netherland Sewell and Associates and Gaffney Cline and Associates, have been engaged.

  • Based on the TOTAL PRL 15 SPA and the sale of a 22.8% interest in PRL 15 by Pac LNG Group Co to OSH in 2014, this 36.54% interest should be worth (depending on resource certification): at 10 tcfe, approximately $2.51 billion; at 12.5 tcfe, approximately $3.42 billion; at 15 tcfe, approximately $4.34 billion.

  • Pricing based on the sale of a 22.8% interest in PRL 15 by Pac LNG Group Co to OSH in 2014 would be similar.

  • Subsequent to the quarter end, Flex LNG shareholders have approved the transaction, part of which was the issue of options to us and Pac LNG to exercise within 15 days 11,315,080 common shares of FLEX LNG at an average strike price of 4.5909 Norwegian Kroner.

  • Shareholders are InterOil LNG Holdings Inc., a wholly-owned subsidiary of InterOil, and Pac LNG.

Related to Pac LNG

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