The Papua New Guinea government has signed an agreement paving the way for the single biggest liquefied natural gas project in the world.
The Post Courier reports the LNG project will be operated by Exxon Mobil.
The Project manager, Peter Graham, says the agreement was reached in a record time of 11 months.
Mr Graham says staff will be based in Australia, Papua New Guinea, the US and Japan.
He adds the investment decision is expected by the end of next year.
The project is forecast to deliver direct capital investment of 10 billion US dollars over a 30-year life of the project.