InterOil Exploring Potential Partnership With Energy World Corp.

InterOil Corporation (NYSE:IOC) signs a non-binding memorandum with Energy World Corporation Ltd. (ASX:EWC) to negotiate taking an ownership interest.

The press release is quoted as saying:

The LNG Hub Terminal is designed to be located adjacent to an existing power plant and consist of facilities for unloading, storage, regasification, and processing of LNG and/or regasified LNG of 1 bcf per day. The CCGT power plant is being designed to consist of 2 x 150MW modules and planned to be built in two phases. A key basis for exploring the partnership is that the CCGT power plant could be the anchor buyer of the proposed PNG EWC Joint Venture LNG facility, sourcing up to 500,000 tonnes per annum.

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