Lng papua new guinea.
Lng papua new guinea Papua New Guinea Nov 19, 2024 · Santos is targeting the financial investment decision in 2026 for the development of non-associated gas from two oilfields in Papua New Guinea that will supply gas to the ExxonMobil-led PNG LNG Dec 13, 2023 · A security fence surrounds the ExxonMobil PNG Limited operated Liquefied Natural Gas (LNG) plant at Caution Bay, located on the outskirts of Port Moresby in Papua New Guinea, November 19, 2018. 9 million tons of natural gas per year over a period of 30 years. With […] May 17, 2022 · PNG LNG is an integrated development that is commercialising the gas resources of Papua New Guinea. We have participated in PNG LNG project, the first LNG project in Papua New Guinea since its planning stage, and commenced LNG shipping in May 2014. Oct 20, 2023 · The scheme will be Papua New Guinea’s second LNG development and is closely tied into the existing, ExxonMobil-led 8. 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. exports for a liquefied natural gas (LNG) project in Papua New Guinea. According to the managing director of Kumal Petroleum, this project would help export gas from Feb 22, 2022 · The P’nyang development in Western Province is proposed to commence following the Papua LNG project, which will be located in Gulf Province. Export-Import Bank. 25% of the GDP in 2019. The firm announced in a statement on Wednesday that it was for the first time directly marketing LNG on the spot market from its share of the PNG Nov 5, 2024 · New gas volumes imminent for Papua New Guinea's flagship LNG project. 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). The phased approach to gas development would support ongoing economic growth in Papua New Guinea. No. [ 2 ] Papua LNG is a gas production project in Papua New Guinea with over 1 billion barrels of oil equivalent. Jul 20, 2022 · The Papua LNG joint venture is committed to developing a landmark project in terms of sustainability, biodiversity, and low carbon emissions. 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. Explore the significant cost overrun, delays, and the latest updates on the project. Jan 30, 2025 · Find the latest news on the Papua LNG project here : Dec 10, 2024 · James Marape reported “good progress” in reducing a 50 per cent cost blowout that delayed the Papua LNG project, but doubts remain on its timing. Dec 12, 2023 · It was a significant milestone for the Department of Petroleum and Energy after its completion of the National Ministerial Determination No. In addition, TotalEnergies intends to drill the first deepwater exploration Dec 13, 2009 · WASHINGTON, D. " He added that both projects, along with the PNG LNG operations, would secure Papua New Guinea’s position as a leading gas-producing nation. “Papua New Guinea is truly well-positioned for the future -- one where LNG will The Papua New Guinea liquefied natural gas (LNG) project was constructed at a cost of US$19 billion. Nov 20, 2024 · The Angore project has shown strong performance since its initiation, with two wells successfully commissioned and connected. Mar 9, 2017 · The Papua New Guinea liquefied natural gas (LNG) project is the largest resource extraction project in the Asia-Pacific region. Introduction The PNG LNG Project is unlocking value from stranded gas resources in the Highlands of Papua New Guinea. The integrated project includes gas production, processing and liquefaction facilities, as well as offshore and onshore pipelines. IESC - PNG LNG Desktop Monitoring - Final Report Doc. G968 and No. The multi-billion-dollar Liquefied Natural Gas (LNG) project is led by TotalEnergies, ExxonMobil, and Santos, with operations expected to commence in the coming […] Santos’ Executive Vice President – Eastern Australia and Papua New Guinea, Brett Darley, spoke at the Papua New Guinea Resources and Energy Investment Conference & Exhibition 2023 in Sydney today. 3 million tons per annum. Total added in a statement on Wednesday that it would re-mobilize teams involved in the project. 1 per cent) that the fully-integrated front-end engineering and design (FEED) work on the US$10 billion (K35. <br /><br />Here’s the story behind one of the Jan 22, 2025 · Papua New Guinea's 'trupla' leading Daily Newspaper Since 1969. Nov 25, 2019 · Papua New Guinea became a significant player in the gas industry in April 2014, when the PNG LNG project, which is headed and operated by ExxonMobil, commenced production. Published 17 October 2024, 23:45 Updated 18 October 2024, 07:29. Aug 6, 2018 · Since its beginnings as a failed pipeline project in the early 2000’s, through to the announcement of a proposed doubling of production capacity earlier this year, Papua New Guinea’s PNG LNG has had a bumpy road to travel. ExxonMobil’s leaders also discussed the importance of positioning Papua New Guinea as a producer of clean and green LNG. 2 million people, occupying the eastern half of the island of New Guinea including the island of Bougainville, Papua New Guinea is located 100 miles north of Australia, having a GDP of USD 15. The buyer is PetroChina International. Papua LNG Project is a planned Liquefied Natural Gas (LNG) production project in Papua New Guinea. 6 million tonnes per year (Mt/y). C. 5 per cent interest in Papua LNG, which it is expected to formally exercise at the time of a final investment decision. - The Export-Import Bank of the United States (Ex-Im Bank) has approved the largest financing transaction in its 75-year history — $3 billion to support U. May 1, 2014 · The Papua New Guinea liquefied natural gas (PNG LNG) project is a new gas project championed by ExxonMobil, to realise the potential of three large gas discoveries in the southern and western highlands of the country. Feb 12, 2025 · PNG Mining is an industry-leading online news resource focused on the Papua New Guinea resources sector. in Papua New Guinea since the 1920s, and in addition to construction of the PNG LNG Project, the company has interests in fuels marketing and oil production. 1%) and Santos (22. A. “Our commitment to Papua New Guinea is one of mutual benefit for the State of Papua New Guinea and its people and is built on the strength of collaboration and partnership that underpins everything we do. The Post-Courier is proud of its record as the voice of PNG. PNG LNG. Mar 17, 2023 · Under the downstream FEED contract, JGC and Hyundai will design approximately four 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. Paris, March 7, 2023 –TotalEnergies, operator of the project, announces the launch of the fully integrated Front-End Engineering and Design (FEED) for the Papua LNG project. FID was initially expected in late 2023 or early 2024 but additional work on EPC contracting will be required before reaching FID. 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. Apr 14, 2023 · Papua LNG Project. The authors are grateful to the numerous people in Papua New Guinea and internationally, in government, business, academia, donor agencies, and civil society, and from ExxonMobil, who have generously shared their insights, experiences and time as we have researched and written this paper. 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 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. Its past has been chequered by violence, vandalism, natural disaster, and seemingly insurmountable technical hurdles. At the same time, PNG LNG continued to help Papua New Guinea realise career, business, and community development opportunities for its people. The Papua LNG partners recently launched fully-integrated front-end engineering and design (FEED) for the Papua LNG project. Petronas set for upstream debut in Papua New Guinea. Nov 10, 2011 · Under the JV agreement, Mitsui has the option to purchase 5% interest in the Elk and Antelope fields and in the LNG project. Aug 22, 2024 · Santos, partners postpone Papua LNG FID to late-2025. The Project proposes to commercialize gas reserves in the Southern Highlands and Western provinces of Papua New Guinea, by processing the gas and transporting it via pipeline from these provinces through Gulf Province and the Gulf of Papua Dec 10, 2024 · Timing is everything in LNG, and delays at the planned 5. 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 New Guinea (PNG) has one of the lowest electrification rates in the Pacific with only 13% of the population having access to reliable electricity, and the country has one of the lowest per capita electricity consumption rates in the world. He expressed his gratitude and commendation to ExxonMobil, the project partners, co-venturers, along with the Western In 2009, the agency funded ExxonMobil’s PNG LNG project in Papua New Guinea. 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. G967, No. Jul 5, 2021 · PNG LNG is an integrated development that is commercialising the gas resources of Papua New Guinea. 9 million tonnes of liquefied natural gas each year which we export to four major customers in the Asia region. 5% State participating interest in any project paid for on 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; 07/20/2022: Papua New Guinea: TotalEnergies Announces New Milestone towards Papua LNG Development Jan 20, 2025 · “They assured me that PNG LNG remains one of the best-performing fields globally and that the company remains committed to ensuring PNG continues to be a major energy producer for at least the next 30 years,” he added. Jun 18, 2014 · Papua New Guinea (PNG) A developing country of 7. Australia’s Santos and its partners plan to make the final investment decision (FID) on the Papua LNG project in Papua New Guinea by the end of 2025, Santos CEO Kevin Gallagher announced during earnings call on August 21. ” “The Marape-Rosso government places high priority on the delivery of Papua LNG project, we have an improved deal for our people, and improved contribution of our Mar 17, 2023 · Papua LNG will be built within the boundaries of ExxonMobil’s existing 8. 3mt/yr PNG LNG facility. 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. Apr 9, 2019 · Port Moresby, April 9, 2019 – Total and its partners ExxonMobil and Oil Search have signed the Gas Agreement with the Independent State of Papua New Guinea defining the fiscal framework for the Papua LNG Project. The project’s operator, ExxonMobil, spent more than four years and US $19 billion building the infrastructure. May 7, 2024 · A decade on from the opening of PNG LNG, Papua New Guinea's first gas project, ExxonMobil PNG's Chairperson and Managing Director Tera Shandro reflects on the progress so far and the potential of forthcoming projects such as the K5 billion Angore project and the Wildebeest prospect. Partnering with ExxonMobil (37. 8 per cent) and ExxonMobil (37. Papua LNG is A final investment decision on the Papua LNG project in Papua New Guinea remains on the agenda for this year. Aug 5, 2023 · In 2010, Exxon-Mobils subsidiary Esso Highlands started the construction of the PNG LNG (Papua New Guinea Liquefied Natural Gas), a US $19 billion project aiming to produce and export 6. The FEED and engineering, procurement, and construction (EPC) estimation contract covers the downstream liquified natural gas (LNG) facilities of the Papua Exxonmobil is on the verge of making Papua New Guinea’s largest LNG discovery. ExxonMobil (NYSE: XOM) affiliates holds 37. 5% interest in the plant. Learn more about the PNG LNG Project at www. Oct 17, 2024 · Papua New Guinea LNG partners make major investment. Throughout PNG LNG is an integrated development that is commercialising the gas resources of Papua New Guinea. Illustration; Source: Santos PNG LNG is an integrated development that is commercialising the gas resources of Papua New Guinea. 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. 95 billion in exports in 2020, and accounting for 5. Aug 22, 2024 · “High interest” from LNG buyers. With the project exceeding export expectations, the focus has now shifted to two new projects, which would more than double the country’s LNG production capacity if they come Oct 18, 2024 · Papua New Guinea's national oil company has signed an agreement with an experienced engineering and construction company for the country's first floating liquefied natural gas project. Its internal policy today does not exclude funding for projects such as the Papua LNG project. Published 5 November 2024, 10:04 Updated 5 November 2024, 10:04. Apr 8, 2024 · A meeting between the Chief Executive Officer (CEO) of French energy giant TotalEnergies and the Prime Minister of Papua New Guinea has enabled the duo to discuss the development of a liquefied natural gas (LNG) project for which a final investment decision (FID) has now been moved to 2025. 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. 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. Gas resources in PNG have been estimated at over 1 billion barrels of oil equivalent. We were there when the nation took its first bold steps towards independence. pnglng. 04% and has been in Papua New Guinea since the PNG LNG is an integrated development that is commercialising the gas resources of Papua New Guinea. PRODUCING AND EXPORTING THE LNG 4. The final investment decision for Papua LNG is targeted in 2025 PNG LNG is an integrated development that is commercialising the gas resources of Papua New Guinea. "We are progressing towards the [Papua LNG] FID, completing the engineering design of the project with an FID targeted early next year,” said Nicolas Terraz, TotalEnergies’ president for exploration . This timeline marks a delay from earlier Apr 9, 2019 · The Papua New Guinea State has signed the gas agreement for the US$10 billion (K33. 1 - 7th June 2021 Page 7 EXECUTIVE SUMMARY This report represents the 20th post-financial close review of the Papua New Guinea Liquefied Natural Gas (PNG LNG) Project with ExxonMobil PNG Limited (EMPNG) as the Operator made by Rina Consulting S. [1] By 2030, the national government aims to increase electricity access to 70% of households by 2030, which would require adding about 300 MW Dec 10, 2024 · New investments in Papua New Guinea's Liquefied Natural Gas (LNG) sector are set to propel the country's energy industry to new heights, solidifying its position as a key player in the global energy mix. By the end of 2022, the PNG LNG total workforce consisted of 3770 workers, of whom 88 percent were Papua New Guinean citizens, including 633 women. G969 for the Papua LNG Project that was successfully gazetted and published on the 6th of December by the Government Print Office. Nov 27, 2023 · Indeed, Papua New Guinea regime has always recognised the significant capital costs of exploration in Papua New Guinea and has shied away from regressive fiscal terms. Apr 8, 2024 · Paris/Port Moresby, April 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. The Marape-Rosso government places high priority on the delivery of Papua LNG Papua New Guinea first started producing liquefied natural gas (LNG) in April 2014 when the flagship $19bn PNG LNG project came on-line months ahead of schedule. Constructed at a stated cost of US$19 billion, it’s operated by Apr 1, 2025 · TotalEnergies has introduced a leading Chinese oilfield services company into the bidding mix for at least one major contract on the Papua LNG project in Papua New Guinea, as the operator seeks The preferred development concept continues to include processing up to 2mn t/yr of Papua LNG's raw gas through the 6. The gas resources have been estimated at over 1 billion barrels of oil equivalent. Aug 10, 2022 · Papua LNGは、既設のPNG LNGの敷地内に建設する予定であり、ユーティリティなどインフラ設備はコスト軽減の目的でPNG LNGと共同使用され、ExxonMobilがすべてのLNGトレインの操業を担当、TotalEnergiesは出荷等の運転に責任を負うことになっていた。 5 days ago · 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. 0 - 09 June 2023 Page 6 EXECUTIVE SUMMARY This report represents the 19th field monitoring and the 22nd post-financial close review of the Papua New Guinea Liquefied Natural Gas (PNG LNG) Project with ExxonMobil PNG Limited (EMPNG) as the Operator made by Rina “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. ExxonMobil PNG's approach to workforce development involves creating local jobs and training Papua New Guineans in technical and professional skills. 5 percent interest in the project at the final investment decision planned by the end of 2023 or early 2024. Papua New Guineans now comprise 90 percent of the Upstream area Operations team and 100 percent of the Pipeline Operations team. Mar 6, 2025 · Papua New Guinea Foreign Affairs Minister Justin Tkatchenko met with officials from the Japan Bank for International Cooperation (JBIC) to discuss potential investment opportunities in the country. 1 per cent), Santos (22. May 5, 2023 · Moreover, Papua New Guinea may exercise a back-in right of up to 22. 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 “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. This was announced officially by the Minister of Petroleum and Energy, Hon. 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. May 26, 2014 · JX日鉱日石開発株式会社（社長：平井茂雄）と丸紅株式会社（社長：國分文也）がJOGMEC（理事長：河野博文）の債務保証（完工保証）対象会社であるNippon Papua New Guinea LNG LLCを通じて参画するパプアニューギニアのPNG LNGプロジェクトは、5月25日、東京電力株式会社向けにLNGの第1船を出荷しました 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. We are especially grateful to Peter PNG LNG is an integrated development that is commercialising the gas resources of Papua New Guinea. The Papua LNG project, led by energy giant TotalEnergies (40. PNG LNG is an integrated development that is commercialising the gas resources of Papua New Guinea. The company commenced oil and gas exploration and production in Papua New Guinea in the late 1980s. 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 Feb 7, 2025 · Last month, Pouyanne met with James Marape, the Prime Minister of Papua New Guinea, to discuss the project, according to a statement. 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. Apr 3, 2025 · PNG LNG is an integrated development that is commercialising the gas resources of Papua New Guinea. 7 billion in 2012 : Participant . The Papua LNG Project will see the development of the Elk-Antelope gas field located in PRL 15 license in the Gulf Province, onshore Papua New Guinea. It includes 9 wells, a gas processing plant, and a 320km pipeline. The Papua LNG project is well positioned to contribute to growth in LNG supply worldwide, especially for customers in Asia seeking to decarbonise from coal to gas, in line with our strategy to Mar 20, 2023 · JGC and Hyundai Engineering & Construction have secured a downstream front-end engineering design (FEED) estimation contract from ExxonMobil for the Papua LNG project in Papua New Guinea. The government of New Papua Guinea through its nominee Petromin PNG Holdings will have the right to acquire 22. S. 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 Project will have an LNG export volume of 5. Papua New Guinea has exported liquefied natural gas (LNG) since 2014. The first shipload of liquefied natural gas departed for Japan on 25 May 2014. Mining accounted for more than 7% of GDP in 2018 and the sector was responsible for 35% of the country’s export revenues. In March 2023, Kumal Petroleum Holdings, the national oil company of Papua New Guinea, said it was in talks with the developers of Papua LNG and Papua New Guinea LNG Terminal regarding the development of its own 1-mtpa train at the Papua LNG complex. The Papua New Guinea (PNG) Liquefied Natural Gas (LNG) Project (Project) is a large and complex operation. 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. Papua New Guinea ExxonMobil Santos Asia & Oceania Southeast Asia. An owner of the Borrower, Papua New Guinea Liquefied Natural Gas Global Papua New Guinea’s mining sector is one of the nation’s strongest industries. 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. We now pick up the story where subsequent exploration wells found mainly gas fields rather than oil fields 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 then exploration activities went on without commercial discoveries until 1986 Having a long track record of working in challenging environments and terrains, our experience in Papua New Guinea demonstrates our ability to deliver projects safely, on time and on budget. In April this year, TotalEnergies said in a statement that the Papua LNG FID was postponed to 2025. Santos is an energy pioneer since 1954 and is one of Australia’s leading gas producers. 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 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. In its first year of production, the US$19 billion project produced over 6 million tonnes of LNG and delivered 87 cargoes. 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 Jan 16, 2025 · TotalEnergies is currently developing the Papua liquefied natural gas project based on the onshore Elk and Antelope gas discoveries. Marape confirmed “substantial” progress on the re-engineering and re-scoping of Papua LNG, which is now moving toward the next phase of development. Hides Gas Development Company Limited offers you a unique opportunity to participate in the development of Papua New Guinea’s first Liquefied Natural Gas Project in one of the most challenging environments of the country. Mar 21, 2023 · Santos (ASX: STO) holds 22. p. 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 Dec 12, 2023 · PNG’s presence in LNG kicked off with the start-up of the PNG LNG plant in 2014 and is being continued by the development of the Angore and P’nyang gas fields, and by Papua LNG. PNG LNG is an integrated development that is commercialising the gas resources of Papua New Guinea. The Papua New Guinea Liquefied Natural Gas Project (PNG LNG Project) involves the development of gas resources located in the Central Highlands of Papua New Guinea, the production of gas and its transportation to an LNG facility at Portion 152 on the coast of the Gulf of Papua, north west of Port Moresby at Caution Bay. 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 PNG LNG is an integrated development that is commercialising the gas resources of Papua New Guinea. 7 billion) Papua LNG project with Total, ExxonMobil and Oil Search. 1% stake), aims to unlock Papua New Guinea’s vast gas resources, estimated at over 1 billion barrels of oil equivalent. 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 Papua LNG is a fossil gas project led by TotalEnergies, with co-venturers ExxonMobil and Santos, located in Gulf province in Papua New Guinea. This was revealed during a meeting between Patrick Pouyanne, chairman and CEO of TotalEnergies, and James Marape, the Prime Minister of Papua New Guinea. The original regime was comprised of a petroleum income tax at 50%, with a 2% royalty paid on wellhead value plus a 22. 3-million tpy PNG LNG plant, 20 km northwest of Port Moresby, and use 2 million tpy of PNG LNG’s capacity. Our operations are producing over 8 million tonnes of liquefied natural gas (LNG) each year which we export to four major customers in the Asia region. Apr 8, 2024 · French supermajor TotalEnergies and its partners have delayed by one year the final investment decision for the multibillion-dollar Papua LNG project in Papua New Guinea, with contractors to be Oct 18, 2024 · AS Papua New Guinea joins the world in the conversation of transitioning from fossil fuels to renewable energy such as LNG, the country stands ready to host investors with its huge hydro-carbon and energy sector potential. 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. The focus has shifted from Oil to Liquefied Natural Gas (LNG May 5, 2021 · French energy group Total said it had agreed with the Papua New Guinea government to proceed with a liquefied natural gas (LNG) project in the country, which had been delayed due to the pandemic, with a final investment decision due in 2023. Kerenga Kua, at the Dream IESC - PNG LNG 2023 Field Monitoring - Final Report Doc. The Papua LNG project is currently on a shortlist of projects set to receive financing from the U. doc 4-1 PGGP-EN-SRENV-000001-001 Rev 0 4. companies will provide goods and services for the project. 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. The project will extract fossil gas from nine production wells at two new onshore fossil gasfields, Elk and Antelope in the highlands of Gulf Province. The Papua LNG partners recently launched fully-integrated front-end engineering and design (FEED) for the project. 9mn t/yr ExxonMobil-operated PNG LNG plant. 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. JX日鉱日石開発株式会社（社長：平井茂雄）と丸紅株式会社（社長：國分文也）がJOGMEC（理事長：河野博文）の債務保証（完工保証）対象会社であるNippon Papua New Guinea LNG LLCを通じて参画するパプアニューギニアのPNG LNGプロジェクトは、5月25日、東京電力株式会社向けにLNGの第1船を出荷しました The Government of Papua New Guinea (PNG) gave its final approval for development of the PNG Liquefied Natural Gas (LNG) Project on 8 December 2009. Apr 18, 2024 · Papua New Guinea’s national oil and gas company Kumul Petroleum said it had sold its first spot liquefied natural gas cargo produced at the PNG LNG project. They will play a key role in running the PNG LNG facilities for decades to come. (formerly May 5, 2023 · Papua LNG has also secured access to up to 2 million tpa of existing liquefaction capacity from PNG LNG that is located at Caution Bay, near the PNG capital Port Moresby. If successful, Wildebeest could expand the construction window for LNG projects in the country even further – out to 13 years. Specifically, the project will incorporate a carbon capture and storage scheme for the fields' native CO 2 , which will be reinjected into the reservoirs. The Papua New Guinea Liquefied Natural Gas (PNG LNG) completed its 1000th LNG cargo shipment in 2023 and maintained a reliable energy supply for customers across Asia. Dec 11, 2024 · Discover the challenges faced by TotalEnergies and Santos in the Papua LNG project. The meeting focused on strengthening collaboration between JBIC and the PNG government, particularly in the energy and resources sector. The Project will have a projected LNG export volume of 5. 8%), the project is inching closer to development. The LNG production capacity is 8. Our operations are producing approximately 7. Feb 11, 2025 · Prime Minister Hon. Workers at over 55 U. PNG LNG Project Coffey Natural Systems 1284_9_Ch04_v3. 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. In Papua New Guinea we have been producing crude in the mountain area. The project, which will double PNG's gas production, represents the second-largest foreign direct investment ever in the country. 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. 6-million-ton-per-year Papua LNG export terminal have raised concerns about feedstock shortages for PNG LNG, Exxon’s flagship joint venture. Mar 17, 2023 · Moreover, Papua New Guinea may exercise a back-in right of up to 22. [1] Prime Minister James Marape was present at the signing at the Government House, Konedobu. The project involves extracting natural gas from the Papua New Guinea highlands, where it is processed before being sent via some 700 kilometres of pipeline to the PNG LNG plant in Port Moresby. Oct 28, 2024 · ExxonMobil Senior Vice President of Global LNG, Mr. 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. Speaking at the launch of the NASFUND FM100 Talkback Show on Monday, the Prime Minister addressed recent 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. P0022407-4-H1Rev. 83% of interest in Papua LNG Project. Dec 3, 2024 · As Papua New Guinea’s state nominee, Kumul Petroleum Holdings and the Mineral Resources Development Company have an option to take up to 22. 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 9, 2024 · Learn about the latest developments in the Papua New Guinea LNG expansion project for 2025, including delays in the final investment decision and efforts to secure competitive contracts with Asian Mar 5, 2018 · The Papua New Guinea LNG (PNG LNG) project opened in 2014 in the South Pacific country, one of Asia's poorest and most politically troubled despite its resource wealth. P0022407-1-H1 Rev. 2 billion) Papua LNG project has commenced. [1] The LNG sector is important to PNG's economy with US$2. com. according to Papua New Guinea Prime “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. Over 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. Oct 21, 2024 · 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). This Gas Agreement allows the partners to enter the Front-End Engineering Design (FEED) phase of study that will lead to the Final Oct 13, 2021 · Late last month, Papua New Guinea’s Prime Minister James Marape returned from a visit to ExxonMobil’s Texas headquarters, and announced ‘heads of agreement’ has been struck with the oil major for the P’nyang gas project in PNG’s Western Province. 1 Overview The proposed LNG Facilities site for the Papua New Guinea Liquefied Natural Gas Project (PNG LNG Project) is located approximately 20 km northwest of Port Moresby at Caution Bay, on the team occupied by Papua New Guinean citizens. xlnerk jbar fozre tgmg vzbam ggdreotc igmczr zhqdnr oduhy piaug itl hhvfl wwlcfap aivtgzq yilpq