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Papua New Guinea approves LNG environment study

Stocks

   

SYDNEY | Tue Oct 27, 2009 9:11pm EDT

SYDNEY Oct 28 (Reuters) - The Papua New Guinea government has approved an environment impact statement for a liquefied natural gas project being led by ExxonMobil Corp (XOM.N), the U.S. oil major said on Wednesday.

"This is another important project milestone, as it allows the project team to secure final approval for the detailed environment management plans which will guide implementation of the construction works," Peter Graham, head of ExxonMobil's local unit, Esso Highlands Ltd, said in a statement.

ExxonMobil's major partners in the project include Australian-listed firms Oil Search (OSH.AX) and Santos (STO.AX).

(Reporting by Mark Bendeich; Editing by Jonathan Standing)