Shares on offer in PNG LNG project partner

The Japanese government has launched a tender to sell its majority stake in the joint venture involved in the development of the PNG LNG project.

Japan Papua New Guinea Petroleum is 62% owned by the trade ministry, with JX Holdings and Mitsubishi holding the remainder.

The joint venture’s subsidiary Merlin Petroleum Co has a 4.7% stake in the $15 billion PNG LNG project.

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