Exxon Mobil (XOM) says the costs of its LNG project in Papua New Guinea have increased by $3.3B to $19B, due to unfavorable forex fluctuations, delays caused by discontented employees and landowners, and above-average rainfall in the past two years. On the bright side, the project is on schedule to start delivering gas in 2014, while its estimated annual production capacity has been increased by 5% to 6.9M tons.
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