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AGL managing director Michael Fraser told the Australian Associated Press last week that the project was too much of a departure from what it was when AGL originally became involved, a project to pipe gas from PNG to Australia.
Work was suspended on the pipeline project at the end of January 2007 and efforts were refocused on developing PNG LNG.
Project participants are expected to make a decision on front-end engineering around the end of March to early April.
"That's a point in time that we will look at what our divestment options are for that asset," Fraser said.
"Expect us to be out of there at some stage in the not-too-distant future."
He added AGL had started to consider exiting PNG when the pipeline project fell over last year.
"It's worth a fair bit of money but is a small stake in the overall project."
Under current proposals, the ExxonMobil-led project will consist of a two-train plant capable of producing 6.3 million tonnes of LNG per annum, with first cargoes expected to ship in 2013.
