Exxon Mobil Corp. (XOM) said Wednesday it has approved five engineering, procurement and construction contracts for the US$15 billion PNG LNG liquefied natural gas plant in Papua New Guinea.

Japan's Chiyoda Corp. has beaten Bechtel Group Inc. to clinch the contract to build the 6.6 million metric ton a year LNG facility.

A joint venture between CBI and Australia's Clough Ltd. has won the contract to build the Hides gas conditioning plant.

SPIECAPAG will build the onshore piplelines and infrastructure and Saipem SPA the offshore pipeline.

A joint venture between McConnell Dowell Constructors and Consolidated Contractors Group Offshore will provide support infrastructure.

All of the contracts are conditional on the PNG LNG project finalizing all outstanding financing and offtake arrangements, Exxon Mobil said in a statement.

-By Ross Kelly, Dow Jones Newswires; 61-2-8272-4692; ross.kelly@dowjones.com
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