Australia and OceaniaContracts and Tenders

Total and partners ink deal with PNG for Papua LNG project

By LNG Prime Staff
Total and partner ink deal with PNG for Papua LNG project
PNG LNG (Image: Oil Search)

Total and its partners ExxonMobil and Oil Search have finally signed a fiscal stability deal with Papua New Guinea for the Papua LNG project.

The signing of this deal gives effect to the gas agreement the trio and the PNG government announced in April 2019. It will help in de-risking the proposed 5.4 million tons per annum project.

PNG Prime Minister James Marape said in a statement this deal “demonstrates Papua New Guinea’s commitment to the Papua LNG project and gives comfort and encouragement to the developers to progress the project.”

Total and partners ink deal with PNG for Papua LNG project
Image: Total

Previously, the partners planned to develop Papua LNG with an expansion of ExxonMobil’s PNG LNG adding three new production trains at the Caution Bay plant.

Under the deal signed this week, the partners would build two new production units at the PNG LNG site, sourcing gas from the Elk Antelope gas fields.

This means that the partners need to redesign the project before any engineering work.

Total operates the Elk and Antelope onshore fields and is the largest shareholder of the PRL-15 permit with a 31.1% interest, alongside partners ExxonMobil (28.3%) and Oil Search (17.7%), post the State back-in right of 22.5%.

Most Popular

LNG Terminals

Venture Global’s Plaquemines LNG to commission fourth tank

US LNG exporter Venture Global LNG has received approval from the US FERC to commission the fourth storage tank with LNG at its Plaquemines plant in Louisiana.
Contracts and Tenders

Worley gets full notice to proceed on first phase of CP2 LNG project

Australian engineering firm Worley has received a full notice to proceed from US LNG exporter Venture Global LNG under its reimbursable EPC contract for the first phase of the CP2 LNG project in Louisiana.
LNG Terminals

US FERC issues final SEIS for NextDecade’s Rio Grande LNG project

The US Federal Energy Regulatory Commission (FERC) has released a final supplemental environmental impact statement for NextDecade's Rio Grande LNG facility and the accompanying pipeline in Texas. FERC continues to conclude that approval of the projects would result in "less than significant impacts."

More News Like This

LNG Terminals

TotalEnergies working on Mozambique LNG restart, CEO says

France's TotalEnergies and its partners in the giant Mozambique LNG project are still working with the Mozambique government on restarting construction on the 12.8 mtpa project, according to Patrick Pouyanne, CEO of TotalEnergies.
Corporate

TotalEnergies reports higher LNG sales, lower earnings

French energy giant TotalEnergies reported higher LNG sales in the second quarter of this year, while its integrated LNG business logged lower adjusted net operating income due to lower prices.
LNG Terminals

Golden Pass LNG gets new FERC approval as commissioning progresses

Golden Pass LNG, a joint venture owned by energy giants QatarEnergy and ExxonMobil, is moving forward with commissioning activities at its two-train LNG plant in Texas with a new approval from the US FERC.
LNG as Fuel

TotalEnergies, CMA CGM to launch LNG bunkering JV

French energy giant TotalEnergies and compatriot shipping firm CMA CGM have signed a deal to develop a 50/50 logistics joint venture dedicated to the implementation and operation of an LNG bunkering supply solution at the Dutch port of Rotterdam.

2025. © All rights reserved. LNG Prime LLC. 447 Broadway, New York, NY 10013, USA