SYDNEY Nov 12 Exxon Mobil said the cost
of its gas export project in Papua New Guinea will soar to $19
billion from $15.7 billion due to foreign exchange impacts and
delays from work stoppages and land access issues.
Exxon told venture partners in a letter published on Monday
the PNG Liquified Natural Gas (LNG) project remains on schedule
for start-up and delivery of the first LNG in 2014.
The plant's forecast capacity has been increased by 5
percent to 6.9 million tonnes per year, Exxon said.
Australian partner Oil Search said it expected the
cost increases would be funded by 70 percent equity, 30 percent