Papua lng latest news today. 1 per cent), Santos (22.

Papua lng latest news today 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 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. 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. Jan 13, 2025 · The meeting also included Peter Clarke, Senior Vice President for Global LNG, who provided updates on ExxonMobil’s commitment to advancing key projects in PNG, including the ongoing developments at Angore, progress on P’nyang, and efforts to synchronise multiple LNG fields for greater efficiency. Feb 22, 2022 · c) State equity of about 34. 7 million to upstream PNG LNG Project landowners of Petroleum Development License (PDL) 7 in Hela, consisting of K19. 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. In parallel, studies for the downstream liquefaction facilities are progressing in line with the overall project schedule, and the objective is Nov 22, 2024 · BP has approved plans to significantly expand its Tangguh LNG facility in Indonesia, with a view to using natural gas from the nearby Ubadari field as feedstock for the liquified natural gas plant May 25, 2022 · Eight clans along the LNG Pipeline corridor are Evara, Hepere, Arehava, Paevera, Avavu, Huruta, Ere and Kilari claimed that the forum had also compiled an unofficial percentage breakup of their royalties for the upcoming Papua 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. 28 billion) Papua LNG project is on track, according to Petroleum Minister Kerenga Kua. TotalEnergies holds 40. James Marape, senior ministers 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. Mar 26, 2025 · When he took office, the economy stood at K79 billion. Dec 3, 2024 · Papua LNG in brief. Oct 17, 2024 · In its third-quarter 2024 report, Santos reported that PNG LNG production in that quarter was at an annualised production rate of 7. 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. Feb 13, 2024 · In a grim development for Papua New Guinea's economic future, Total Energy has advised the market that the US$12 billion Papua LNG Project is on the brink of collapse. As the world’s leading oil company Apr 9, 2024 · Santos’ planned $15 billion LNG project in Papua New Guinea has struck a further delay and is now targeting a final investment decision next year after initial bids from contractors vying to 6 days ago · On Thursday, April 10, 2025, Prime Minister Hon. Your weekly digest of business news. Prime Minister James Marape has announced the payment of K33. In particular Jun 18, 2024 · This weeks Helpdesk highlight ExxonMobil PNG Ltd LNG exploration and Development updates. 1% Dec 6, 2024 · The 2025 National Budget of Papua New Guinea, amounting to K28. 58 per cent). 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. The Angore project Nov 19, 2024 · The PNG LNG consortium has just completed the $1 billion Angore gas project in PNG’s Hela province, which will deliver up to 350 million cubic feet per day of feedstock to the PNG LNG project. 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. This will make our LNG more attractive to buyers in both spot - and long-term contracted markets. 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. “Papua LNG will move into pre-Feed in September after the financial stability agreement was signed in February,” he said. In particular, he shared the high interest of several LNG buyers for off-taking LNG from Papua LNG due to its strategic location close to key Asian markets. G968 and No. 1 per cent), Santos (22. A final investment decision (FID) for the P'nyang field is targeted for 2029, following the start-up of the planned 5. According to Peter Laden, managing director of ExxonMobil PNG Ltd, there are major sources of LNG (liquefied natural gas) supplies outside of Papua New Guinea (PNG). This will make our LNG more attractive to buyers in both spot and long-term contracted markets. Reinforcing PNG’s reputation for fiscal responsibility, Prime Minister Marape noted that the country has never defaulted on its international debt obligations, including during the global COVID-19 crisis. LNG. This much-anticipated match follows the recent successes of the While several factors have delayed the final investment decision on Papua LNG, Papua New Guinea’s second gas project, Jean-Marc Noiray, Managing Director of project lead TotalEnergies E&P PNG, says he’s “confident” the project will reach that landmark this year, “with all the lines of activity progressing well: technical optimisation, regulatory permitting, gas marketing and project Posted by papualngadmin February 6, 2025 March 13, 2025 Posted in Latest News Papua LNG signs Memorandum of Understanding with Caritas Technical Secondary School. 8billion (K7. As the operator of the PNGLNG project, it highlights the progress on its other tie-in investments and potential prospects through exploration. Jul 28, 2022 · The FEED process is an essential step ahead of a final investment decision for the Papua LNG project, expected in late 2023. The Mineral Resources Development Company was used to make the payment (MRDC). Jan 14, 2025 · “We discussed aligning our LNG production with PNG’s green credentials,” PM Marape stated. Feb 18, 2022 · Prime Minister Hon. 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 Jan 13, 2025 · “We discussed the importance of aligning our LNG production with PNG’s green credentials,” PM Marape said. Bringing all the Papua New Guinea latest News, PNG News, PNG Latest News, Looppng News, PNG breaking news, PNG Economy News, PNG Sports news, PNG Business News, PNG Hunters Ne Aug 12, 2021 · The US$12 billion (K41. Three senior ExxonMobil corporate executives, led by outgoing Upstream President Liam Mallon, traveled to PNG to personally bid farewell to Prime Minister 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. " He added that both projects, along with the PNG LNG operations, would secure Papua New Guinea’s position as a leading gas-producing nation. Woods reiterated ExxonMobil’s strong commitment to progressing these critical energy projects. Dec 11, 2024 · Explore the significant cost overrun, delays, and the latest updates on the project. We were there when the nation took its first bold steps towards independence. “It is my expectation that as the country celebrates its 46th Independence anniversary on Sept 16, we will observe much PNG's government in March signed a fiscal stability agreement for the P'nyang project with PNG LNG partners. [1] Prime Minister James Marape was present at the signing at the Government House, Konedobu. 357 billion, was presented in Parliament on November 29 by Treasury Minister Ian Ling-Stuckey. He also informed the Prime Minister that, after receiving first EPC offers, it appears that the project will need to keep working with contractors to obtain commercially viable EPC Mar 26, 2025 · When he took office, the economy stood at K79 billion. 7 million in cash and K14 million in project component. 04 per cent), Santos (22. The $US18 billion Papua LNG project, led by TotalEnergies with Santos, is under pressure as a 50% cost overrun and delays force a redesign to curb expenses. Papua LNG is a key growth project for Santos and the Pacific nation but it has beset by delays and a company Chevron makes advance payment for LNG from Papua New Guinea. “Papua New Guinea is truly well-positioned for the future -- one where LNG will Feb 29, 2024 · This week, news broke that French bank Crédit Agricole and financial adviser to oil giant TotalEnergies, has announced that it will not provide direct financing for the Papua LNG project. 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. 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. In 2023, there will be a Fid (final investment decision) and a building phase. 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. Early works are on track for 2024. Oct 21, 2024 · Chinese yard Wison New Energies has won a pre-front-end engineering and design contract for a 1. d) A favourable DMO (domestic market obligation) for gas at much cheaper price than Papua (there was none in PNG LNG). The phased approach to gas development would support ongoing economic growth in Papua New Guinea. Papua LNG is a liquefied natural gas (LNG) project led by TotalEnergies, with a 37. Jan 22, 2025 · “We aim to ensure that once Papua LNG is operational, efforts are swiftly mobilised to develop P’nyang LNG. Jan 22, 2025 · Marape stated, "We aim to ensure that once Papua LNG is operational, efforts will be made to develop the P’nyang LNG. 8 per cent) and ExxonMobil (37. 6mn t/yr Papua LNG starts production in 2028, with synchronisation planned between the two projects. 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. Jan 20, 2025 · Prime Minister Hon. 6mn t/yr Papua LNG export terminal, with synchronisation between the two projects seen as guiding the investment timeline. Papua New Guinea's 'trupla' leading Daily Newspaper Since 1969. Speaking at an industry event, Marape reaffirmed Mar 7, 2023 · Papua LNG is on course to be the Pacific island country’s second gas project, and PNG Prime Minister James Marape hopes the development will spur economic growth in a country where large amounts 4 days ago · The Conservation and Environment Protection Authority issued two environmental permits to Papua LNG project in Port Moresby yesterday, marking significant mile stone for the multi-million Athletics Breaking News Entertainment History Life new News Papua New Guinea Sport Tagged: Elema Mai Lavi Council of Chiefs, Owen Vaii, Papua Liquefied Natural Gas (LNG) Project, Papua LNG Well Head 3 replies on “Papua LNG landowners want their issues addressed” Pingback: U. 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. 1 per cent) that the fully-integrated front-end engineering and design (FEED) work on the US$10 billion (K35. With an estimated US$20-25 billion in construction activity over the next decade, the government is ensuring that PNG is positioned for long-term prosperity. Dec 10, 2024 · Timing is everything in LNG, and delays at the planned 5. This was announced officially by the Minister of Petroleum and Energy, Hon. "The Dec 11, 2023 · Papua New Guinea's state-owned petroleum company is in advanced talks with Chinese banks to help fund its stakes in the two major liquefied natural gas (LNG) projects in the country, a senior Jul 16, 2024 · READ MORE: Waste oil – a timebomb for Papua New Guinea – Matthew Vari “International partners are most protective of their waterways. 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. Kua said the Government was guaranteed that the Hon. e) Early Tax credit works of about Group pays respect to Pope at Vatican embassy with traditional song. 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. JX Nippon is an affiliate of ENEOS and already holds a 4. 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. According to Laden, PNG presently accounts for 2% of the market for LNG, which produces eight to nine million tonnes annually. 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. Pre-feed (front end engineering design) work has already begun, Kua informed Parliament. Golar LNG inks order for first of its next 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. James Marape, MP has announced that his Cabinet has cleared the P’nyang Gas Agreement, which now awaits signing between the State and ExxonMobil who is the lead project developer of the Petroleum Retention License (PRL) 3. Given that Total Energies announced FEED (front-end engineering and design) for the Papua LNG Project in July of this year, Minister for Petroleum and Energy Kerenga Kua believes that PNG will export LNG in the ensuing decades 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. 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. 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. ” Oct 20, 2024 · Santos sets time line of whether it will proceed with PNG’s second gas project. 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. A final investment decision (FID) on the 5. P’nyang gas project – Following Papua LNG to ensure long-term energy sector expansion. The real feed will begin at the end of this year and last until 2022. We would like to show you a description here but the site won’t allow us. 83 per cent) and JX Nippon (2. Yoto Sep 21, 2022 · By 2032, it is anticipated that the Papua Liquefied Natural Gas project (Papua LNG) would produce an additional 2–3 million tonnes of liquefied natural gas annually. Historic Signing Ceremony The signing ceremony, led by Governor General Sir Bob Dadae and attended by Prime Minister Hon. This collaboration with West Papua's BUMD aims to ensure optimal use of the LNG allocation while adhering to current government regulations. 7% interest in PNG LNG. 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. As I was preparing for this webinar I went back to 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 Dec 9, 2024 · In a significant development announced during his speech at the PNG Resource Week in Sydney this morning, Prime Minister James Marape revealed that China has committed to purchasing 3 billion metric tonnes of gas from Papua New Guinea's (PNG) Papua LNG project. 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 24, 2024 · by KPHL to sell 144,000 m3 of LNG on Free-On-Board (FOB) terms to PetroChina marks a significant development for PNG’s national oil company, as it is the first time for the national oil company to market their equity share of LNG production from the PNG LNG Project, above the long-term Sales Purchase Agreement volumes. 00) for the Papua New Guinea’s Papua LNG project after meeting with PNG’s Foreign Affairs Ministry yesterday. 2 billion or K7,255,709,334. This landmark deal promises significant economic and social benefits. G969 for the Papua LNG Project that was successfully gazetted and published on the 6th of December by the Government Print Office. AccordingTotalEnergies, the FEED process will initially centre on the upstream production facilities for the project, which are based on the Elk and Antelope gas fields in PNG’s Gulf Province. Bringing Papua New Guinea breaking News. “In the future, even after Papua LNG, we will still represent about two percent of the global LNG The Home of PNG Breaking News online. May 24, 2023 · Altogether the two projects would almost double the country’s LNG export capacity, with Papua LNG alone adding 5. 5% under the Oil and Gas Act and a negotiated commercial equity of 12. 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. The multi-billion-dollar Liquefied Natural Gas (LNG) project is led by TotalEnergies, ExxonMobil, and Santos, with operations expected to commence in the coming […] Oct 18, 2024 · ExxonMobil senior vice president for Global LNG Peter Clarke said the PNG LNG project enters its next exciting phase. He said PNG would produce LNG through to 2060 and pointed to 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. 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. This is much higher compared to 19. Nov 13, 2024 · Santos CEO Mr. The project, which held immense potential for PNG's LNG sector, is now unlikely to reach its Final Investment Decision (FID) in 2024, as anticipated. Apr 8, 2024 · In particular, he shared the high interest of several LNG buyers for off-taking LNG from Papua LNG due to its strategic location close to key Asian markets. 5m tonnes per year to existing capacity at the PNG LNG plant. ” Oct 28, 2024 · ExxonMobil Senior Vice President of Global LNG, Mr. “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. 6 million tonnes per year (Mt/y). With […] 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. Dec 19, 2024 · Post Courier. 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. The budget focuses on addressing law and order challenges, easing living pressures, reducing the deficit, and fostering economic growth. 5%. 408 billion—an Papua New Guinea's (PNG) prime minister James Marape said construction of the 4. The Catholic Charismatic Renewal, comprising Catholic faithful from the Highlands Region, joined the Catholic Bishops Conference of Papua New Guinea and Solomon Islands (CBCPNGSI) in paying their respects to Pope Francis at the Vatican Embassy today. Gas resources in PNG have been estimated at over 1 billion barrels of oil equivalent. James Marape officially launched Papua New Guinea's newest commercial bank, the National Banking Corporation (NBC), bringing the total number of commercial banks in the country to seven NBC is the transition from the former People’s Micro Finance Bank, and is a subsidiary of the National Development Bank (NDB) – one of the nine State- owned We would like to show you a description here but the site won’t allow us. 2 billion) Papua LNG project has commenced. Kerenga Kua, at the Dream 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. 1%) with ExxonMobil (37. During the meeting, Mr. “PNG LNG remains a world-class asset 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. 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. 8%) aims to develop Papua New Guinea’s gas reserves (over 1 billion barrels of oil equivalent). PDL 7 was one of a series of upstream PDLs that had been hampered by Mar 4, 2024 · ExxonMobil PNG Limited, the operator of PNG LNG Project is helping to build the capacity of conservation workers and researchers in the country to help nurture and protect Papua New Guinea’s unique environment. 6mn t/yr Papua LNG project in Papua New Guinea is likely to be taken in late 2025, Australian independent Santos' chief executive Kevin Gallagher told an investor call marking the firm's half-year results to 30 June. G967, No. William Duma, as final dividend payment for the year. we have been the go-to source for independent news and analysis of the major oil and gas projects shaping the industry and the 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. The Prime Minister said: "When I took office in mid-2019, I committed to the nation better results from resource projects we were going to undertake Apr 3, 2025 · Creating shared value opportunities in PNG . S. 6-million-ton-per-year Papua LNG export terminal have raised concerns about feedstock shortages for PNG LNG, Exxon’s flagship joint venture. 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. 6% in PNG LNG and 22. 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. 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. Apr 7, 2024 · operator of the project, and its international partners ExxonMobil, Santos, JX Nippon, are fully committed to Papua LNG. 6 days ago · Prime Minister Hon. James Marape today issued a powerful call to action for Papua New Guinea to transform its agriculture sector through unified public-private partnerships, during the official opening of the National Agriculture Industry Public–Private Sector Partnership Conference in Lae. Exxonmobil is on the verge of making Papua New Guinea’s largest LNG discovery. The estimated US$10 billion project will effectively involve two parts. 55 per cent interest, and including ExxonMobil (37. Mr Sonk said, “This has been a tough year financially for KPHL, we have had to meet our PNG LNG Project JV cash calls associated with the finalisations and connection of the Angore field Feb 3, 2025 · Prime Minister James Marape provided an update following his productive meeting with ExxonMobil CEO Darren Woods during the World Economic Forum in Davos, highlighting key discussions on the PNG LNG, Papua LNG, and P’nyang LNG projects. Jan 6, 2025 · Kumul Petroleum Holdings Limited managing director, Wapu Sonk, today handed over a cheque of K150 million to the State Owned Enterprises Minister Hon. Feb 11, 2025 · Pasca A offshore gas project – Set to contribute to PNG’s LNG portfolio. The Project will have a projected LNG export volume of 5. 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. 4 trillion ft³ (125bn m³) P'nyang gas field will begin immediately after the 5. 5% consisting of 22. “Our goal is to brand PNG as a green energy nation, producing LNG from a country with a negative carbon footprint. com – News Release 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. Johanna Boothey, Vice President of Development at ExxonMobil PNG Ltd, emphasized this potential during her speech at the Investment Conference earlier today. 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. 8 million tonnes per annum compared to 8 million tpa in the Japan Bank for International Cooperation (JBIC) have agreed to provide a US$1. 5 days ago · TMC to equip 12 LNG newbuilds Wednesday 23 April 2025 12:00. Following a meeting with TotalEnergies CEO Patrick Pouyanné, the Prime Minister confirmed that the initial $18 billion construction tender was deemed economically unfeasible. Together, these projects, along with the existing PNG LNG operations, will secure Papua New Guinea’s status as a leading gas-producing nation through 2060 and beyond,” Prime Minister Marape added. This decision adds to the struggles faced by TotalEnergies in securing funding for the gas mega-project, which is supported by French President Emmanuel Macron. 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 gas project, Pasca A, in the Gulf Province. Sep 22, 2024 · Prime Minister James Marape today announced that discussions on the Pasca A Gas Project, which aims to develop the Pasca A gas-condensate field located approximately 95km offshore from Gulf Province, are progressing well. 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. Peter Larden, the new managing director of ExxonMobil PNG, was greeted by Kua, who said, “We look forward to working with him on a wide range of economic and social programmes that continue to Lae, Morobe Province, Monday 7 April 2025 – Prime Minister Hon. . 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. Hanwha Ocean has picked TMC Compressors to deliver the marine compressed air system to 12 LNG vessels the South Korean shipbuilder is constructing for an undisclosed LNG shipping major. “Our goal is to brand Papua New Guinea as a green energy nation, producing LNG from a country with a negative carbon footprint. Today, it has reached K120 billion, with projections to exceed K130 billion by year-end. Dec 12, 2023 · It was a significant milestone for the Department of Petroleum and Energy after its completion of the National Ministerial Determination No. 2020 PNG Chamber of Mines and Petroleum Webinar Andrew Barry, ExxonMobil PNG Limited Managing Director I'm proud and humbled to be here today to share with you how PNG LNG is changing lives and bringing long-lasting benefits to this great country. natural gas expansion would surrender world to fatal warming, experts say – Mongabay. 5% in Papua). 1%) and Santos (22. The budget, K980 million larger than its 2024 counterpart, projects revenues of K25. Tony Jordan reports. 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 mtpa floating LNG production unit in Papua New Guinea. Papua LNG Project led by TotalEnergies (40. Photo Credit: PNG LNG Project Kerenga Kua, Papua New Guinea's petroleum minister, wishes to see the PNG government, ExxonMobil PNG, and the PNG LNG project enhance their beneficial relationship. The Post-Courier is proud of its record as the voice of PNG. 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. [4] Papua LNG is expected to have liquefaction capacity of up to six million mt/year of LNG, with first production expected by the end of 2027 or early 2028. 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. Dec 10, 2024 · But Mr Marape said he saw “no better alternative available in the next 30 years” than LNG to support the energy transition. tvyb dykg mnam hispi gcjqm tudvtz niyg cahc cizbiuht lohf bowg rmakvken qvvw slbsn ldrco