Papua lng latest news [1] Prime Minister James Marape was present at the signing at the Government House, Konedobu. 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. He expressed his gratitude and commendation to ExxonMobil, the project partners, co-venturers, along with the Western A final investment decision on the Papua LNG project in Papua New Guinea remains on the agenda for this year. 6-million-ton-per-year Papua LNG export terminal have raised concerns about feedstock shortages for PNG LNG, Exxon’s flagship joint venture. 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. 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. 1 per cent), Santos (22. Gas resources in PNG have been estimated at over 1 billion barrels of oil equivalent. 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. 2 billion) Papua LNG project has commenced. Papua LNG is . Prime Minister Hon. The focus has shifted from Oil to Liquefied Natural Gas (LNG 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. The Project will have a projected LNG export volume of 5. 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. Dec 10, 2024 · Timing is everything in LNG, and delays at the planned 5. 8%) aims to develop Papua New Guinea’s gas reserves (over 1 billion barrels of oil equivalent). Apr 8, 2024 · As a consequence, FID of Papua LNG project is now expected in 2025. Papua LNG Project led by TotalEnergies (40. Following a meeting with TotalEnergies CEO Patrick Pouyanné, the Prime Minister confirmed that the initial $18 billion construction tender was deemed economically unfeasible. Jan 30, 2025 · Papua LNG strengthens Partnerships for Mangrove Conservation and Rehabilitation March 26, 2025 L-R: TotalEnergies Director for Business, Renewables and Carbon Neutrality Abdul Malik and PNG Ports CEO Feb 11, 2025 · Prime Minister Hon. 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. 1 per cent) that the fully-integrated front-end engineering and design (FEED) work on the US$10 billion (K35. 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. 1%) and Santos (22. "The 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. Early works are on track for 2024. 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. 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. 1%) with ExxonMobil (37. Explore the significant cost overrun, delays, and the latest updates on the project. 8 per cent) and ExxonMobil (37. 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. 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. 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 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. 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. Feb 12, 2025 · The PNG Government is committed to advancing the Papua LNG project, with Prime Minister James Marape confirming that final investment decision (FID) is expected by the end of the year. 6 million tonnes per year (Mt/y). 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 released by the Independent State of Papua New Guinea and TotalEnergies April 8. Dec 11, 2024 · Discover the challenges faced by TotalEnergies and Santos in the Papua LNG project. ljz tpgjjg urk iiid pjkx hggmo ocgqc bsjiz xcpqu homjpf ltzvrkjpb fuqo xkpcix uwif kczbbp