The Australian energy company Santos is reportedly looking to sell off its stake in Papua New Guinea's major liquefied natural gas project.
LNG Project facility, Central Province, Papua New Guinea. Photo: RNZI / Johnny Blades
Santos has a 13.6 percent stake in the $US19 billion LNG project led by ExxonMobil.
But with reports that with the company facing internal spending restraints, talks are proceeding with potential Japanese suitors for the PNG LNG stake.
The Business Spectator reports the deal could net Santos about $US1 billion.
Japan's Marubeni has been mentioned in connection to a sale of Santos' stake, while Mitsubishi, Mitsui and Osaka Gas are also seen as logical buyers.
