Papua New Guinea could see LNG exports double

By Sophie Chapman
The US oil and gas firm, ExxonMobil Corp, and French petroleum company, Total, have made plans to expand Papua New Guinea’s liquefied natur...

The US oil and gas firm, ExxonMobil Corp, and French petroleum company, Total, have made plans to expand Papua New Guinea’s liquefied natural gas (LNG) exports.

The two firms and their partner, Oil Search Ltd, have agreed on the target of aiming to double the country’s gas exports.

The firms announced their plans on 20 February, stating the project’s goal of reaching a 16mn tonnes per annum capacity at the PNG LNG facility, operated by ExxonMobil.

The cost of the project has been valued at US$13bn, says Reuters.

If the companies meet their target, the Papua New Guinea facility could match some Australia’s largest LNG ventures.

SEE ALSO:

The project will include three new LNG units – two of which will be use gas supplied by Total, and one will use ExxonMobil’s gas.

“There’s no doubt that keeping it simple is one of the great advantages of the concept that is presently on the table,” commented Peter Bootten, Managing Director of Oil Search.

“It also allows a smart way of both marketing gas and financing,” Reuters reported him stating.

“Joint venture alignment challenges remain, and shouldn’t be underestimated,” commented Saul Kavonic, Analyst at Wood Mackenzie.

“I know they all have other interests around the world. But in no way do I see any blinking or any reluctance to move these projects forward. They’re good, economic solid projects,” he added.

Share
Share

Featured Articles

Decentralised energy key to circumventing grid delays

Aggreko is advising the sector to consider short to mid-term decentralised energy solutions as an effective means of maintaining business continuity.

Renewable energy to become top source of electricity by 2025

According to the Energy Agency’s Electricity Market Report 2023, 90% of new demand between now and 2025 will be covered by clean energy sources

Nuclear energy — the unsung hero of the climate challenge

Nuclear energy’s green potential was brought to the spotlight at the recent COP 27 climate change conference in Egypt. How viable is it?

UK and US announce energy partnership

Oil & Gas

Alfa Laval to supply world’s largest green hydrogen plant

Smart Energy

COP27 agrees to climate compensation fund

Sustainability