Papua lng latest news.

Papua lng latest news . The climate crisis is hurting our people, our lands, our livelihoods. Following a meeting with TotalEnergies CEO Patrick Pouyanné, the Prime Minister confirmed that the initial $18 billion construction tender was deemed economically unfeasible. This collaboration with West Papua's BUMD aims to ensure optimal use of the LNG allocation while adhering to current government regulations. This was announced by managing director Peter Larden at the recent PNG Mining and Petroleum conference. As the premier source of information for the latest industry updates in the Pacific nation, PNG Mining keeps readers up to date on news, trends and insights, and is the official resource of the PNG Industrial and Mining Resources Exhibition On Tuesday 12th December, Jubilee Australia Research Centre sent a letter to Export Finance Australia on behalf of forty-six international civil society organisations calling for it to commit not to finance the Papua LNG project (another four have since backed this call). James Marape has reaffirmed his government’s commitment to advancing the Papua LNG project, confirming that Final Investment Decision (FID) is expected by the end of 2025, paving the way for a new wave of economic growth in Papua New Guinea’s oil and gas sector. Feb 11, 2025 · Prime Minister Hon. To inform the public about the Papua LNG project and its initiatives with the locals. This landmark deal promises significant economic and social benefits. James Marape, senior ministers Aug 27, 2024 · Wapu Sonk, Managing Director of Papua New Guinea's state-owned oil and gas company Kumul Petroleum Holdings Limited, spoke about the way forward with the TotalEnergies-led Papua LNG project and the "unexpected blessings" its delay could bring at this month's 2024 Business Advantage PNG Investment Conference. Papua LNG is The preferred development concept continues to include processing up to 2mn t/yr of Papua LNG's raw gas through the 6. Dec 12, 2023 · It was a significant milestone for the Department of Petroleum and Energy after its completion of the National Ministerial Determination No. (a major subsidiary of ENEOS Holdings, Inc. The project, which will double PNG's gas production, represents the second-largest foreign direct investment ever in the country. Papua New Guinea Aug 25, 2021 · This month, PNG’s Parliament passed the Oil and Gas (Papua LNG Project) Amendment Bill 2021, which allows Total to go ahead with the pre-FEED and FEED process ahead of its application for a petroleum development license for Papua LNG. The Angore project Apr 8, 2024 · TotalEnergies said its CEO Patrick Pouyanne recently told Papua New Guinea Prime Minister James Marape the project would need to work with third-party contractors to reach commercially viable engineering, procurement, and construction contracts. 1 7. Oct 21, 2024 · Stay updated on Santos' $15 billion LNG project in Papua New Guinea with latest developments and challenges. Jul 20, 2022 · “The commencement of upstream FEED studies is another significant step towards developing the Papua LNG project, which will increase Papua New Guinea’s LNG export capacity and thus contribute to its further development," said Julien Pouget, Senior Vice President Asia Pacific for Exploration & Production and Renewables at TotalEnergies. Termed wildebeest, it will be bigger than the PNGLNG and the Papua LNG combined, and the super major is working with the Minister for Petroleum and Energy Kerenga Kua and his team to advance exploration to determine the size of the resource. Kerenga Kua, at the Dream May 9, 2024 · Prime Minister James Marape today called on the people of Gulf Province to prepare to supply goods and services to the forthcoming Papua LNG Project and the Wildebeest LNG Project. Marape made this announcement after meeting TotalEnergies chief executive officer Patrick Mar 7, 2023 · “This project, strongly supported by the Papua New Guinea State, will contribute to the security of LNG supply, especially for customers in Asia, where LNG can substitute coal for power Mar 7, 2023 · “The Papua LNG Project is a project of national significance for Papua New Guinea and will stimulate business confidence and provide a significant impetus for our economy” said the Honorable Kerenga Kua, Minister of Petroleum and Energy of Papua New Guinea. Your weekly digest of business news. “Papua LNG will move into pre-Feed in September after the financial stability agreement was signed in February,” he said. 83 per cent) and JX Nippon (2. TotalEnergies EP PNG Limited (TotalEnergies), the operator of the Papua LNG project, in alignment with its ongoing commitment to community development, presented Pocket Sunshine solar lamps to Grade 8 students at St John Bosco Catholic Primary School in Kuriva, Koiari Rural LLG, Central Province, on March 1, 2025. "The May 24, 2023 · The advantages of having a second Liquefied Natural Gas (LNG) project in a country like Papua New Guinea is important and strategic in that the people are attached to the land, and they want to feel they are part of the extraction of resources and wealth -- and they can only do that through the development of their customary land. This much-anticipated match follows the recent successes of the Kumuls in the Pacific Bowl series, where they showcased dominance in wins against Fiji Bati and the Cook Islands. Four new electric LNG trains will be built at We would like to show you a description here but the site won’t allow us. Watch his exclusive fireside chat. 6 million tonnes per year (Mt/y). 8billion (K7. 7 billion) Papua LNG project with Total, ExxonMobil and Oil Search. Santos managing director and CEO Kevin Gallagher said: “The start-up of Angore is one of a number of PNG [Papua New Guinea] highlights in 2024 for Santos and our joint venture partners – ExxonMobil, Kumul Petroleum Holdings, Mineral Resources Development Company and Apr 10, 2024 · The French oil and gas company TotalEnergies, the operator of the proposed Papua LNG project in Papua New Guinea, plans to make a final investment decision (FID) on the project in 2025. This was revealed during a meeting between Patrick Pouyanne , chairman and CEO of TotalEnergies, and James Marape , the Prime Minister of Papua New Guinea, according to a statement by Nov 22, 2024 · Latest News; Watchlist; Investing. PM Marape called on the residents of Gulf Province to prepare to supply goods and services to the forthcoming projects, emphasizing the May 5, 2021 · Paris, May 5, 2021 – A meeting took place on 3rd of May between Patrick Pouyanné, Chairman and CEO of Total, and a Delegation of Papua New Guinea (PNG) led by the Deputy Prime Minister Samuel Basil, with the objective to review together the next steps for the development of the Papua LNG project. Santos today announced the Papua LNG joint venture has launched fully-integrated front-end engineering and design (FEED) for the Papua LNG project in Papua New Guinea. 5 mtpa floating LNG production unit in Papua New Guinea. Papua LNG is a liquefied natural gas (LNG) project led by TotalEnergies, with a 37. “We discussed the importance of aligning our LNG production with PNG’s green credentials,” PM Marape said. Oct 21, 2024 · Chinese yard Wison New Energies has won a pre-front-end engineering and design contract for a 1. Demand for LNG continues to grow, especially in Asia as countries move to meet net zero commitments by exiting coal power. This was announced officially by the Minister of Petroleum and Energy, Hon. Their focus on advancing Papua LNG and exploring new opportunities positions Papua New Guinea as a key player in the energy sector for decades to come,” Prime Minister Marape concluded. “It is my expectation that as the country celebrates its 46th Independence anniversary on Sept 16, we will observe much Finally, the LNG Plant, currently used to compress gas for export for the ExxonMobil-led PNG LNG project, will need to be expanded to accommodate the new PRL15 gas, with an additional two trains to be constructed, as well as condensate storage and a new flare system. Therefore, PNG has already been issued with a warning on implementation of a ban of oil and hydrocarbon shipments, including LNG from PNG through Indonesian water,” he said. Apr 18, 2024 · In Part I, we read about the signs of oil and gas throughout Papua New Guinea that enticed many oilmen to look for large oil and gas fields over many decades, and we read about the first commercial oil discovery at the Iagifu 2-X well and how the Kutubu field was successfully developed. Apr 8, 2024 · PARIS, April 8 (Reuters) - French oil and gas giant TotalEnergies , opens new tab on Monday said a planned new liquefied natural gas (LNG) project in Papua New Guinea would require 'more work Apr 10, 2024 · TotalEnergies said there is high interest of several LNG buyers for offtaking LNG from Papua LNG due to its strategic location close to key Asian markets. Kua stated this in response to Western Governor Toboi Awi Yoto's inquiries concerning the PNG LNG project's integration with other PDL regions and the pipeline's construction into Juha. we have been the go-to source for independent news and analysis of the major oil and gas projects shaping the Oct 2, 2023 · Paris, October 2, 2023 - On 2 October 2023, the French daily newspaper Le Monde published an article on the Papua LNG project in Papua New Guinea. Nov 15, 2024 · Part of the original PNG LNG development plan, the PGK 5 billion Angore Project now unlocks a 1 TCF natural gas resource to supplement existing PNG LNG production levels. Johanna Boothey, Vice President of Development at ExxonMobil PNG Ltd, emphasized this potential during her speech at the Investment Conference earlier today. Jan 30, 2025 · Find the latest news on the Papua LNG project here : Jan 22, 2025 · Prime Minister James Marape has assured the nation that the crucial Papua LNG project remains on schedule, despite facing initial cost concerns. 8%) aims to develop Papua New Guinea’s gas reserves (over 1 billion barrels of oil equivalent). Feb 10, 2025 · TotalEnergies and Exxon Mobil say they are still working toward a final investment decision (FID) on the delayed Papua LNG project amid efforts to reduce costs. Feb 12, 2025 · PNG Mining is an industry-leading online news resource focused on the Papua New Guinea resources sector. On a historically significant day for the oil and gas sector on Wednesday, April 17, 2024, Prime Minister Marape officially welcomed PetroChina into Papua New Guinea Similar to the Early Works Information Session held earlier in May in both Port Moresby and Lae, Papua New Guinean business houses received up-to-date information on the Papua LNG project, its procurement process, key packages and upcoming tenders in 2024 for the project. “The PNG LNG project remains an industry leader not just in creating revenue for the country, but in providing opportunities for Papua New Guineans to grow as technical specialists and business leaders. 0 7. " He added that both projects, along with the PNG LNG operations, would secure Papua New Guinea’s position as a leading gas-producing nation. DPE Secretary Mr David Manau while addressing the key stakeholders present at the submission, stated that his department willContinue reading "Papua LNG Project Submits Apr 7, 2025 · In my commentary of PNG Business News, Issue 2, 2023 entitled: Petroleum Sector Reform for Papua New Guinea, I wrote about the need to apply better governance to the sector to achieve optimal outcomes for the State. Mar 17, 2023 · The Project calls for the design of approximately 4 million tons per year of LNG liquefaction capacity adjacent to the existing PNG LNG processing facilities located 20 kilometres northwest of Port Moresby, Papua New Guinea, with the natural gas to be sourced from the Elk Antelope gas field. Jun 18, 2024 · ExxonMobil PNG’s Chairperson and Managing Director, Tera Shandro said as the single largest business investment in the country, the ExxonMobil operated PNG LNG Project has not only helped launch a new industry, but it has also provided valuable insights into how resource development companies can partner with the country to unlock additional Jan 10, 2025 · The LNG volume to be utilized is expected to meet PGN's demand of approximately 20 MMSCFD, or about 2 cargoes per year from the BP Tangguh Refinery in West Papua. Papua LNG Project is a planned Liquefied Natural Gas (LNG) production project in Papua New Guinea. As the premier source of information for the latest industry updates in the Pacific nation, PNG Mining keeps readers up to date on news, trends and insights, and is the official resource of the PNG Industrial and Mining Resources Exhibition Apr 8, 2024 · TotalEnergies has postponed a final investment decision on the planned Papua LNG project in Papua New Guinea to 2025, from an earlier expected date of this year, according to the joint statement relea Feb 3, 2025 · Prime Minister James Marape concluded a series of high- level meetings at the World Economic Forum with a productive discussion with Patrick Pouyanné, CEO of TotalEnergies, focusing on the Papua LNG project and its future progress. Jul 16, 2024 · READ MORE: Waste oil – a timebomb for Papua New Guinea – Matthew Vari “International partners are most protective of their waterways. G969 for the Papua LNG Project that was successfully gazetted and published on the 6th of December by the Government Print Office. Ltd’s recent entry into the nation’s hydrocarbon industry. Papua New Guinea's 'trupla' leading Daily Newspaper Since 1969. The Post-Courier is proud of its record as the voice of PNG. We now pick up the story where subsequent exploration wells found mainly gas fields rather than oil fields Apr 22, 2024 · Prime Minister Hon. Dec 9, 2024 · Santos, alongside project partners TotalEnergies and ExxonMobil, is gearing up for a critical decision on the $15 billion Papua LNG project by late 2025. “This is an exciting development for Papua New Guinea’s LNG industry which, in partnership with ExxonMobil, has established a global reputation for excellence,” said Apr 19, 2024 · (Reuters) — PetroChina International has lifted a spot cargo of LNG from the PNG LNG project sold by Papua New Guinea's national oil company, the Chinese state oil and gas trader said on Friday. 1 per cent), Santos (22. The project was delayed for a year because of Covid-19. 5 days ago · Photo credit: Oil Search According to ExxonMobil PNG Ltd, the PNG LNG project has earned K11 billion in revenue for the government thus far. $7 billion plans that are expected to unlock up to 3 trillion cubic feet of extra natural gas resources for the Tangguh LNG facility in West Papua Papua New Guinea: TotalEnergies Announces New Milestone towards Papua LNG Development Paris, July 20, 2022 – TotalEnergies, as operator, has announced the decision of the Papua LNG joint venture to launch the first phase of front-end engineering and design (FEED) studies for the Papua LNG project's upstream production facilities. Jan 22, 2025 · The Prime Minister emphasised the government’s focus on synchronising Papua LNG and P’nyang LNG to maximise benefits for Papua New Guinea. [1] Prime Minister James Marape was present at the signing at the Government House, Konedobu. 3 billion (the Offer). The numbers: Santos has received the final payment of US$241 million ($366 million), taking the total cash consideration to US$602 million. Apr 9, 2019 · The Papua New Guinea State has signed the gas agreement for the US$10 billion (K33. PNG has already identified renewable energy projects that could dramatically expand energy access for everyday people. This ambitious undertaking aims to harness the Elk-Antelope gas fields in Papua New Guinea’s Gulf Province, potentially solidifying the nation’s status as a major player in the global energy market. Gas resources in PNG have been estimated at over 1 billion barrels of oil equivalent. Dec 6, 2024 · Santos has announced the successful completion of the Angore project in Hela Province, Papua New Guinea, further bolstering the country’s liquefied natural gas (LNG) production capacity. Apr 1, 2025 · From there, 320 kilometres of pipeline, of which 60 kilometres is onshore, will transport gas to the existing PNG LNG facility operated by ExxonMobil. Historic Signing Ceremony The signing ceremony, led by Governor General Sir Bob Dadae and attended by Prime Minister Hon. 6% interest in PNG LNG to Papua New Guinea's national oil company Kumul Petroleum. He told PNG Business News that the project continues to deliver reliable LNG supply to key markets in Asia, reinforcing its vital role in the global energy landscape. Managing Director of project lead TotalEnergies E&P PNG, Jean-Marc Noiray, walks Business Advantage PNG through the milestones ahead for the US$10 billion-plus gas project. 1%) with ExxonMobil (37. Papua LNG is expected to have liquefaction capacity of up to six million tonnes of LNG per annum with first production expected by the end of 2027 or early 2028. On 23 December… Sep 3, 2024 · The PNG government will take a 22. Apr 9, 2024 · News of the delayed FID came through discussions between James Marape, the Prime Minister of Papua New Guinea, and Patrick Pouyanné, chairman and chief executive officer of TotalEnergies, during Apr 21, 2021 · Background – Petroleum Industry in Papua New Guinea The exploration for petroleum in Papua New Guinea has a long history which dates back to early 1900s. Since that time, we have fearlessly recorded the nation's progress. Dec 20, 2024 · The P’nyang LNG project is set to deliver significant benefits to all stakeholders involved and enhance Papua New Guinea’s (PNG) standing as a leading LNG exporting nation. The company is promoting the project's low carbon credentials. Peter Bosip, Director of the PNG NGO CELCOR, stated that Crédit Agricole’s decision highlights the negative implications of the Papua LNG project on the climate Jan 23, 2025 · Marape stated, "We aim to ensure that once Papua LNG is operational, efforts will be made to develop the P’nyang LNG. James Marape recently praised the economic opportunities the Papua LNG Project and the Wildebeest LNG Project are set to bring, as both natural gas projects underline the potential for business growth and development in the region. May 30, 2023 – Port Moresby, Papua New Guinea Marking yet another milestone for the Papua LNG project, six (6) of the required petroleum applications licences were submitted to the Department of Petroleum and Energy (DPE). Learn about the economic impact and future plans. “Papua LNG is perfectly located to serve the Asian markets,Continue reading "TotalEnergies country head Sep 22, 2024 · He further mentioned that during his upcoming visit to the United Nations General Assembly (UNGA) in New York, he will meet with the leadership of ExxonMobil to discuss the PNG LNG Project, Papua LNG, and P’nyang LNG, with the aim of synchronising these major projects. 6-million-ton-per-year Papua LNG export terminal have raised concerns about feedstock shortages for PNG LNG, Exxon’s flagship joint venture. Dec 10, 2024 · Timing is everything in LNG, and delays at the planned 5. People in Papua New Guinea deserve clean energy and a sustainable economy. G967, No. Jan 29, 2025 · Prime Minister James Marape on Tuesday, January 28, 2025, welcomed a high-level delegation from TotalEnergies to discuss the progress of key LNG projects in Papua New Guinea, including the flagship Papua LNG project and new exploration opportunities at Mailu in Central Province. we have been the go-to source for independent news and analysis of the major oil and gas projects shaping the The final investment decision for the TotalEnergies-led Papua LNG project, which would spark a fresh investment boom in Papua New Guinea, still faces significant hurdles, as growing environmental activism makes finance harder to arrange and international energy projects compete for scarce construction resources. Tony Jordan reports. We were there when the nation took its first bold steps towards independence. This will make our LNG more attractive to buyers in both spot and long-term contracted markets. 4 trillion ft³ (125bn m³) P'nyang gas field in Papua New Guinea (PNG), which is considered critical to the future of the nation's two major LNG projects. A final investment decision on the Papua LNG project in Papua New Guinea remains on the agenda for this year. Nov 5, 2024 · US supermajor Chevron has made an unexpected move in Papua New Guinea by making an advance payment for liquefied natural gas supplies that enabled the country's national oil company to complete TotalEnergies, ExxonMobil, Santos and ENEOS Xplora Inc. 00) for the Papua New Guinea’s Papua LNG project after meeting with PNG’s Foreign Affairs Ministry yesterday. The focus will be on local agriculture and fisheries for food supplies, forestry for timber, and tourism to accommodate the surge of workers and visitors expected. With […] Jul 14, 2021 · Prime Minister James Marape said that the Papua LNG project in the Gulf will enter pre-Feed (front end engineering and design) in September. Set to be located adjacent to the existing PNG LNG processing facilities, the project will have four LNG trains with a combined capacity of 4 million tonnes per year (Mt/y). Prime Minister Marape confirmed substantial progress on the re-engineering and re-scoping of Papua LNG, which is now moving toward the next phase of development Papua New Guinea’s ambitious Papua LNG project is moving closer to a Final Investment Decision (FID), with Prime Minister James Marape confirming that significant progress has been made despite economic and logistical challenges. At least 11 banks have already ruled out the project, including all Australian and French banks that financed PNG LNG, the first LNG project in Papua New Guinea. PNG’s Prime Minister James Marape said that the fiscal stability agreement will have the same terms as agreed by the parties in the gas agreement announced in April 2019. Latest News; Feature Stories; Newsletters; Multimedia; EXXONMOBIL is on the verge of making Papua New Guinea’s largest LNG discovery. On this occasion, Patrick Pouyanné reaffirmed to the Prime Minister that TotalEnergies, operator of the project, and its international partners ExxonMobil, Santos, JX Nippon, are fully committed to Papua LNG. Nov 24, 2023 · As the Papua LNG project has evolved, so too has KNHRL, which recently rebranded as Jerilai Pujari Holding Limited. In parallel, studies for the downstream liquefaction facilities are progressing in line with the overall project schedule, and the objective is Apr 7, 2025 · In my commentary of PNG Business News, Issue 2, 2023 entitled: Petroleum Sector Reform for Papua New Guinea, I wrote about the need to apply better governance to the sector to achieve optimal outcomes for the State. Dec 3, 2024 · Papua LNG in brief. Back. 1 per cent) that the fully-integrated front-end engineering and design (FEED) work on the US$10 billion (K35. May 6, 2021 · Chairman and CEO of Total Patrick Pouyanné and a Delegation of Papua New Guinea (PNG) led by the deputy prime minister Samuel Basil attended the meeting on 3 May to review remobilization and the planning of the Papua LNG Project. This milestone development, unveiled on November 19, marks a significant step forward for the PNG LNG venture, delivering up to 350 million standard cubic feet (mmscf) of gas per day. This will make our LNG more attractive to buyers in both spot - and long-term contracted markets. Kevin Gallagher recently called Papua New Guinea’s Liquefied Natural Gas (PNG LNG) project a "world-class asset" that boasts a low-cost, low-emissions intensity profile. Parliament passes Papua LNG Project Amendments Bills, the Minister for Petroleum announces that the P'nyang gas field project will be a standalone project, and Twinza Oil says it expects the first production of liquids from the Pasca A condensate gas field by 2022. Feb 10, 2021 · The Papua New Guinea (PNG) government and Total have signed a fiscal stability agreement for the Papua LNG project, nearly two years after signing a gas agreement. Japan Bank for International Cooperation (JBIC) have agreed to provide a US$1. He also shared that several LNG buyers are interested Oct 17, 2024 · ExxonMobil and its joint venture partners in the Papua New Guinea LNG project will soon receive a much-needed injection of new gas from a US$1 billion gas field development in the jungles of the Feb 13, 2025 · Papua New Guinea Prime Minister James Marape has confirmed the final investment decision (FID) for the Papua LNG project is expected by the end of 2025. ” “The commencement of upstream FEED studies is another significant step towards developing the Papua LNG project, which will increase Papua New Guinea’s LNG export capacity and thus contribute to its further development,” said Julien Pouget, Senior Vice President Asia Pacific for Exploration & Production and Renewables at TotalEnergies. Papua LNG is a liquefied natural gas (LNG) production project led by TotalEnergies in response to Papua New Guinea’s desire to develop its gas resources. LNG. 9mn t/yr ExxonMobil-operated PNG LNG plant. Apr 14, 2023 · Papua LNG Project. 8 per cent) and ExxonMobil (37. ExxonMobil plans to expedite the next stage of its 4. Jan 14, 2025 · “We discussed aligning our LNG production with PNG’s green credentials,” PM Marape stated. Subject to a final investment decision by the P’nyang participants, the ExxonMobil-operated P’nyang project would deliver LNG through new upstream facilities in Western Province linked to existing infrastructure, including our world-class PNG LNG plant near Port Moresby. This is the first sale of the super-chilled fuel the Pacific island nation's state-owned Kumul Petroleum Holdings Limited (KPHL) has made, the Oct 18, 2024 · Kumul Petroleum and Wison New Energies signed an agreement for pre-front end engineering and design on a potential FLNG project with the capacity to produce 1. 55 per cent interest, and including ExxonMobil (37. 5 per cent stake in Papua LNG, higher than the 19. May 25, 2022 · Papua New Guinea's 'trupla' leading Daily Newspaper Since 1969. “Our goal is to brand Papua New Guinea as a green energy nation, producing LNG from a country with a negative carbon footprint. 4 days ago · The Pipeline and Hazardous Materials Safety Administration is seeking comment to inform a rulemaking proposal to update decades old regulations for LNG facilities, fast-track new LNG infrastructure projects, expand domestic export capacity, and grow the small scale LNG market. 1%) and Santos (22. 04 per cent), Santos (22. Jan 13, 2025 · The company recognises PNG’s negative carbon footprint and the country’s potential to market its LNG as a cleaner, more sustainable energy source in the global market. JX Nippon is an affiliate of ENEOS and already holds a 4. Jan 6, 2025 · The Government of Papua New Guinea (PNG), Hevehe Petroleum, and Twinza Oil have signed the Pasca Gas Agreement, marking the country’s first offshore petroleum project. James Marape announced that Papua New Guinea continues to be a prime destination for business ventures, highlighted by PetroChina International Co. “Papua New Guinea is truly well-positioned for the future -- one where LNG will Oct 31, 2024 · The midstream is the 320 kilometres of onshore and offshore pipelines, while the LNG scope is the four new electric trains at the existing PNG LNG facility operated by ExxonMobil. This new entity continues to represent the commercial interests of the PRL15 clans and has begun seeking out strategic partnerships to deliver meaningful, generational change to the people and communities of PRL15. The focus has shifted from Oil to Liquefied Natural Gas (LNG Mar 21, 2023 · Photo Credit: Papua LNG - Map showing 260 km of offshore pipeline and 60 km of onshore pipeline extending from Elk and Antelope fields to Caution Bay On March 07, 2023, in separate announcements, Santos, TotalEnergies, and Exxon announced the Papua LNG project had launched the first phase of a fully integrated front-end engineering and design (FEED) for the Papua LNG project in Papua New Papua LNG is a liquefied natural gas (LNG) production project led by TotalEnergies in response to Papua New Guinea’s desire to develop its gas resources. Papua New Guinea Prime Minister James Marape has revealed that the initial tender of US$18 billion (about K72 billion) for the construction of the Papua LNG project was deemed economically unfeasible, prompting a comprehensive review by project partners. We would like to show you a description here but the site won’t allow us. Oct 20, 2024 · PNG LNG is the only gas export project in Papua New Guinea presently. “PNG citizens including 20 per cent women now make up 91 per cent of PNG LNG’s total workforce – a fantastic achievement. 2 "Papua New Guinea gets a dose of resource curse as ExxonMobil's natural gas project foments unrest," ABC News, Jan 20, 2022 · Photo credit: Oil Search According to Petroleum Minister Kerenga Kua, the production of liquefied natural gas from the Juha petroleum development licence nine (PDL 9) region in Western has yet to begin. 5 million tonnes per annum of LNG. The prime minister and Patrick Pouyanné confirmed the delay will not affect the early work planned in Papua New Guinea in 2024 and that the project will maintain its full support to the Papua New Guinea LNG Terminal, also ↑ 7. (JPHL). 9 million tonnes of liquefied natural gas each year which we export to four major customers in the Asia region. Speaking at the launch of the NASFUND FM100 Talkback Show on Monday, the Prime Minister addressed recent 5 days ago · Prime Minister Hon. “The commencement of upstream FEED studies is another significant step towards developing the Papua LNG project, which will increase Papua New Guinea’s LNG export capacity and thus contribute to its further development," said Julien Pouget, Senior Vice President Asia Pacific for Exploration & Production and Renewables at TotalEnergies. Peter Clarke, recently shared his insights on the success of Papua New Guinea’s liquefied natural gas industry and the bright opportunities ahead as a keynote speaker at Kumul Petroleum Holding Limited’s Petroleum and Energy Conference held in Port Moresby. Santos has announced plans to finalise a decision in 2025 regarding its proposed $15 billion liquefied natural gas (LNG) project in Papua New Guinea (PNG LNG). The Prime Minister and Patrick Pouyanné agreed that this slight delay will not affect the early works planned in Papua New Guinea in 2024 and that the project will maintain its full support to local population of Gulf Province. James Marape on Tuesday, January 28, 2025, welcomed a high-level delegation from TotalEnergies to discuss the progress of key LNG projects in Papua New Guinea, including the flagship Papua LNG project and new exploration opportunities at Mailu in Central Province. Jul 21, 2022 · Photo credit: TotalEnergies TotalEnergies, as operator, has announced the decision of the Papua LNG joint venture to launch the first phase of front-end engineering and design (FEED) studies for the Papua LNG project's upstream production facilities. In the framework of this integration between Papua LNG and PNG LNG, TotalEnergies is pleased to also announce the signature of a head of agreement with JX Nippon in the view to sell a 2% interest (post Kumul back-in right) in Papua LNG. Could Papua New Guinea’s second gas project get the green light in 2025? In an exclusive interview with Business Advantage PNG, Arnaud Berthet, Managing Director of TotalEnergies EP PNG, outlines the Papua LNG project timeline and the activities left to complete on the road to FID. Apr 8, 2024 · At the meeting, TotalEnergies CEO and Chairman Patrick Pouyanné assured Papua New Guinea’s Prime Minister James Marape that his company, which is the operator of the Papua LNG project, and its international partners ExxonMobil, Santos, and JX Nippon remain fully committed to the project. Speaking at an industry event, Marape reaffirmed Jan 8, 2024 · Papua New Guinea's 'trupla' leading Daily Newspaper Since 1969. The $10bn project to build Papua New Guinea's second LNG export terminal was initially expected to reach an FID by early 2024 ahead of first production in early 2028, but this was Feb 29, 2024 · It is estimated that Papua LNG would emit 220 million tonnes of carbon dioxide , further exacerbating the climate change challenges faced by Papua New Guinea’s population. Golar LNG inks order for first of its next ExxonMobil is proud to have signed the P’nyang Gas Agreement with Papua New Guinea linking new upstream facilities in Western Province to existing infrastructure. We don’t need fossil gas and 95% of Papua LNG’s gas will be sent overseas. 7% interest in PNG LNG. Nov 3, 2024 · The news: Energy giant Santos has completed the sale of a 2. Our operations are producing approximately 7. The questions posed by the journalists were answered in detail. Early works are on track for 2024. ” Nov 19, 2024 · The ExxonMobil-led PNG LNG project in Papua New Guinea during construction. Jan 13, 2025 · Prime Minister James Marape has extended his gratitude to senior leaders from ExxonMobil’s headquarters in Houston, Texas, who visited Papua New Guinea to reaffirm the company’s long-term commitment to the country’s energy sector. 58 per cent). Yoto Oct 18, 2024 · ExxonMobil senior vice president for Global LNG Peter Clarke said the PNG LNG project enters its next exciting phase. ) are investing in the Papua LNG project which is aimed at developing the Elk and Antelope gas fields in the Gulf Province of southeastern Papua New Guinea and constructing liquefied natural gas (LNG) production facilities near Port Moresby. Since then exploration activities went on without commercial discoveries until 1986 Apr 3, 2025 · PNG LNG is an integrated development that is commercialising the gas resources of Papua New Guinea. 2 billion) Papua LNG project has commenced. PNG LNG is an integrated development that is commercialising the gas resources of Papua New Guinea. News and Media. Oct 28, 2024 · ExxonMobil Senior Vice President of Global LNG, Mr. He expressed his gratitude and commendation to ExxonMobil, the project partners, co-venturers, along with the Western Papua LNG Project led by TotalEnergies (40. Jan 20, 2025 · “We discussed the importance of aligning our LNG production with PNG’s green credentials,” PM Marape said. Dec 11, 2024 · Discover the challenges faced by TotalEnergies and Santos in the Papua LNG project. “Our goal is to brand PNG as a green energy nation, producing LNG from a country with a negative carbon footprint. Santos refers to its announcement of 27 September 2022 regarding the binding conditional offer from Kumul Petroleum Holdings Limited (Kumul) to acquire a five per cent interest in PNG LNG for asset value of US$1. 6 per cent held in the country’s sole other development, PNG LNG. It is part of international efforts led by Papua New Guinea organisations Jan 22, 2025 · “The consistent commitment from these two global energy leaders, TotalEnergies and ExxonMobil, is encouraging. International organisations that are experts in the Jul 28, 2022 · The progress of Papua New Guinea's next major gas project, Papua LNG, appears on schedule as operator TotalEnergies announces the project is entering its front end engineering and design (FEED) stage. Mar 7, 2023 · A long-awaited milestone towards Papua New Guinea’s next phase of economic growth was reached yesterday with the announcement by joint venture partners, TotalEnergies (40. “Our goal is to brand Papua New Guinea as a green energy Dec 22, 2024 · Papua New Guinea has taken a significant step in the energy sector with the signing of an agreement to develop the country’s first offshore Papua New Guinea has taken a significant step in the energy sector with the signing of an agreement to develop the country’s first offshore gas project, Pasca A, in the Gulf Province. 4 billion, including a proportionate share of PNG LNG project finance debt of approximately US$0. “When we combine the gas resources from Papua LNG and P’nyang LNG fields, we have 11 trillion cubic feet (TCF) of gas. The Project will have a projected LNG export volume of 5. FID was initially expected in late 2023 or early 2024 but additional work on EPC contracting will be required before reaching FID. In particular Feb 13, 2025 · PARIS, Feb 13 - Italy's largest banking group, Intesa Sanpaolo , opens new tab, and the Asian Development Bank (ADB) said they will not finance a $10 billion LNG project in Papua New Guinea, as Papua LNG Project. “PNG LNG remains a world-class asset Apr 8, 2024 · French energy giant TotalEnergies and its partners have postponed a final investment decision on the planned Papua LNG export project in Papua New Guinea. Explore the significant cost overrun, delays, and the latest updates on the project. Kumul will also assume approximately US$90 million of existing Nov 26, 2024 · PNG Mining is an industry-leading online news resource focused on the Papua New Guinea resources sector. Six Papua New Guinean organisations have already been highlighting the climate, biodiversity and human rights risks of Papua LNG. G968 and No. 2 billion or K7,255,709,334. However, given the limited use of our responses in the article and in the interest of transparency, the Company has decided to publish its exhaustive answers. New gas volumes imminent for Papua New Guinea's flagship LNG project. Nov 20, 2024 · The Angore project has shown strong performance since its initiation, with two wells successfully commissioned and connected. This is with regard to progress of ExxonMobil’s other projects such as the K5 billion Angore pipeline and the use of existing well pad infrastructure to drill and complete, according to Mr Clarke. Feb 22, 2022 · IRVING, Texas – ExxonMobil subsidiary Esso PNG P’nyang Limited, Ampolex Limited, and the Independent State of Papua New Guinea have signed the P’nyang project gas agreement for the proposed development of the P’nyang LNG project. Mar 27, 2024 · The Government and the project partners for the US$12 billion (or K36 billion) P'nyang LNG project in Western signed the Fiscal Stability Agreement on March 18, 2024 in Port Moresby. Apr 8, 2024 · James Marape, the Prime Minister of Papua New Guinea and Patrick Pouyanné, Chairman and CEO of TotalEnergies, met together to discuss the status of the Papua LNG project. In addition, TotalEnergies intends to drill the first deepwater exploration Nov 13, 2024 · Santos CEO Mr. The multi-billion-dollar Liquefied Natural Gas (LNG) project is led by TotalEnergies, ExxonMobil, and Santos, with operations expected to commence in the coming […] Apr 8, 2024 · As a consequence, FID of Papua LNG project is now expected in 2025. May 13, 2024 · Prime Minister Hon. It began with a group of Australian geologists who first came in 1913 to PNG to investigate prospects of hydrocarbon on behalf of the Australian Government. Our latest news from Papua New Guinea 04/08/2024: Joint Statement of the Independent State of Papua New Guinea and TotalEnergies 03/07/2023: Papua New Guinea: TotalEnergies launches integrated engineering studies for the Papua LNG project Oct 26, 2024 · Papua New Guinea Kumuls are set to clash with the New Zealand Kiwis on Sunday, 10th November, at CommBank Stadium in Sydney, Australia. Exxonmobil is on the verge of making Papua New Guinea’s largest LNG discovery. Dec 29, 2023 · News By Country Papua New Guinea. Dec 10, 2024 · It involves the development of the Elk and Antelope gas fields in the eastern Papuan Basin, a pipeline to the PNG LNG site near Port Moresby and the construction of new electric LNG processing units. The estimated US$10 billion project will effectively involve two parts. The Marape-Rosso government places high priority on the delivery of Papua LNG Feb 11, 2025 · PRIME Minister Hon. Papua New Guinea Santos, partners postpone Papua LNG FID to late-2025 Aug 22, 2024 1:00:pm. nphuhx qiobdui htx rtmluf qrmscsbh inngynd yho isntp qpqc bago dfrc iqp fymy sax pquw