(New throughout, adds details and share price)
April 28 Exxon Mobil Corp said a $19
billion project in Papua New Guinea had started production of
liquefied natural gas (LNG) ahead of schedule.
Exxon said at its analyst meeting in March that the project
was due to start during the middle of this year.
The first cargo from the project, which would also produce
piped natural gas (PNG), is expected to be shipped to Asia
markets before the middle of this year, the company said.
Exxon said the project, operated by affiliate ExxonMobil PNG
Ltd, was expected to produce more than 9 trillion cubic feet of
gas over 30 years of operations.
Exxon is relying on projects like the one in Papua New
Guinea to fuel much-needed production growth at the world's
largest publicly traded oil company.
Shares of Exxon ended at $101.17 on the New York Stock
Exchange. So far this year, the company's stock is flat,
compared with a 1 percent gain in the Standard & Poor's 500
(Reporting by Ankit Ajmera in Bangalore, additional reporting
by Anna Driver in Houston; Editing by Kirti Pandey and David