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Png lng project TotalEnergies chief executive Patrick Pouyanne impressed with appetite of potential EPC contractors in India and China Dec 9, 2009 · Offshore staff MILAN-- Esso Highlands Ltd. 5 percent interest in the project at the final investment decision planned by the end of 2023 or early 2024. The Papua New Guinea (PNG) Liquefied Natural Gas (LNG) Project (the Project) aims to commercialise the gas resources in the Hides, Angore and Juha fields and associated gas PNG LNG is an integrated development that is commercialising the gas resources of Papua New Guinea. Learn about the economic impact and future plans. ” “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 May 8, 2023 · Papua New Guinea’s last resource boom, from 2009 to 2014, was narrow, driven by gas. 3 billion to the economy is a testament to its transformative impact on various sectors and communities across the nation. Exxonmobil is on the verge of making Papua New Guinea’s largest LNG discovery. 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. 5 billion in various taxes paid to the Internal Revenue Commission. The Angore project May 17, 2022 · Revenues delivered by the PNG LNG Project include PGK 7. Production workforce of over 2,700, 91 percent are Papua New Guinean and 20 percent are women; Around 1 billion cubic feet of natural gas turned into LNG every day at the LNG Plant May 1, 2014 · In August 2010, BAM Clough joint venture was awarded a A$314m contract for building the condensate and LNG offloading jetty in the Gulf of Papua for the PNG LNG project. 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 The PNG LNG Project has undeniably been a catalyst for economic growth in Papua New Guinea. Papua New Guinea LNG Terminal, also known as PNG LNG, is an LNG terminal in National Capital District, Papua New Guinea, owned by a coalition of companies led by ExxonMobil. PNG LNG. Pasca A offshore gas project – Set to contribute to PNG’s LNG portfolio. 5bn over the 30-year lifetime of the project. With an investment exceeding $19bn (K75. The project has launched the FEED phase and aims to reduce carbon footprint and CO2 emissions with electric trains and CO2 reinjection. Historic Signing Ceremony The signing ceremony, led by Governor General Sir Bob Dadae and attended by Prime Minister Hon. Dec 11, 2024 · OIL & GAS Papua LNG cost blowout triggers calls for redesign, Santos sticks to 2025 timeline . 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). PNG LNG benefits at a glance. 84bn), the project marked its tenth year of production in 2024, consistently surpassing its nameplate Oct 21, 2024 · Stay updated on Santos' $15 billion LNG project in Papua New Guinea with latest developments and challenges. This Gas Agreement allows the partners to enter the Front-End Engineering Design (FEED) phase of study that will lead to the Final Dec 13, 2009 · WASHINGTON, D. 8%), the project is inching closer to development. G968 and No. [1] Prime Minister James Marape was present at the signing at the Government House, Konedobu. 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. C. S. 4% share. - 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. The PNG LNG Project Umbrella Benefits Sharing Agreement (UBSA) is an overarching agreement that outlines how a number of the State’s Project revenue streams will be shared with Project area landowners, local level governments and provincial governments. “When the first shipment of Papua New Guinea’s LNG set sail on the ‘Spirit of Hela’ to Japan in 2014, and PNG entered an esteemed club of LNG exporting nations, no one could have foretold what the future would Jan 30, 2025 · TotalEnergies EP PNG Limited (TotalEnergies), the operator of the Papua LNG project, in alignment with 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 Papua LNG project is well positioned to contribute to growth in LNG supply worldwide. Jun 18, 2014 · PNG LNG Project (Project) The Papua New Guinea Liquefied Natural Gas Project in Papua New Guinea, the Lead Sponsor of which is ExxonMobil : Sponsor . Over Apr 14, 2023 · About PNG LNG Project. These includes: Distribution to Kumul Petroleum – K9. There are over 700km of pipelines connecting the facilities, which includes a gas conditioning plant in hides and liquefaction and storage facilities near Mar 20, 2023 · Planned to be built near the existing processing facilities of the $19bn PNG LNG project, located 20km north-west of Port Moresby, the Papua LNG project will have an LNG liquefaction capacity of around four million tonnes per year (Mtpa). Over the 30-year life of the project, the PNG LNG project will produce more than nine trillion cubic metres of gas, about 6. Workers at over 55 U. ) 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. Assuming that gas price trades at US$10-12/MMBTU or better and other factors are working in favour the likelihood of APT to trigger is there. 9 million tonnes per year. 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. 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 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 PNG LNG Project cost US$19 billion in capital expenditure. 5 billion in various taxes were paid to the Internal Revenue Commission since Production in 2014. How much income? 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. It is operated by ExxonMobil PNG on behalf of five co-venture partners. 6% equity interest in the PNG LNG Project for US$576 million, plus US$160 million share of project debt. “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 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. Johanna Boothey, Vice President of Development at ExxonMobil PNG Ltd, emphasized this potential during her speech at the Investment Conference earlier today. (The project is distinct from the TotalEnergies-led Papua LNG Terminal . Dec 3, 2024 · 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. Our production operations include gas production and processing facilities, onshore and offshore pipelines and liquefaction facilities. According to the Australian firm, the two wells that have been commissioned and connected as part of the Angore development are expected to supply up to 350 million standard cubic feet of gas per day to sustain production at the PNG LNG project. The projection of equity participation finances in LNG projects is a major issue in the politics surrounding LNG projects. Marape also emphasized the significance of the commitment shown by Woods and Pouyanné in advancing both the Papua LNG and P’nyang LNG projects. 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 Feb 15, 2024 · PNG LNG project revenues paid to the government and the people has reached K24. The Project will have a projected LNG export volume of 5. 0 INTRODUCTION . Mar 14, 2022 · Kumul Petroleum Holdings has announced that it has finalised agreement with Santos to purchase a 2. An owner of the Project entities that have the rights and ownership interests in the PNG LNG Project. PRODUCING AND EXPORTING THE LNG 4. 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. They also have relevance for other operators and policy makers around the world. It was characterised by the surge in activity associated with the PNG LNG project, with some stimulus from public infrastructure and expansion of existing gold/copper mines. PNG government pushes for cost cuts amid reported 50% budget surge Apr 21, 2021 · Kutubu attracted approximately US$1 billion in capital expenditure for development plus US$350 million in exploration cost. 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. P’nyang gas project – Following Papua LNG to ensure long-term energy sector expansion. . May 27, 2014 · Six years in the making, the PNG LNG project is expected to boost Papua New Guinea’s economy by a massive 15% in first year of production. 6 Mt/y of LNG by 2028. PNG LNG is an integrated development that is commercialising the gas resources of Papua New Guinea. The Papua LNG partners recently launched fully-integrated front-end engineering and design (FEED) for the project. Dec 12, 2023 · It was a significant milestone for the Department of Petroleum and Energy after its completion of the National Ministerial Determination No. He said PNG would produce LNG through to 2060 and pointed to the Apr 3, 2025 · PNG LNG is an integrated development that is commercialising the gas resources of Papua New Guinea. I am pleased with the outcome of this meeting with clear Oct 12, 2020 · The project has a high resource volume of 10. According to ExxonMobil's InterOil, there is enough gas between the Elk-Antelope and P’nyang gas fields in Papua New Guinea to justify three LNG trains by 2023 to 2025, in The PNG LNG Project is a US$19 billion integrated projected that is commercializing gas from various fields in Hela and Southern Highlands provinces. May 5, 2023 · TotalEnergies is operator of the upstream and pipeline components for Papua LNG while ExxonMobil will be responsible for construction and operation of the four electric liquefaction trains (e Feb 11, 2025 · In addition to Papua LNG, several major resource projects are moving towards development, including: Wafi-Golpu gold and copper project – Final agreements expected in 2025. Papua New Guinea Subject to sanction, the Papua LNG* project is proposed to see the development of the Elk-Antelope gas field located in PRL 15 licence in the Gulf Province, onshore PNG. 3 TCF, the project cost is expected to be lower than PNG LNG Project, may be two thirds of the cost of the first LNG Project. 8 per cent) and ExxonMobil (37. 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. 3 million tons per annum. Mar 21, 2023 · Papua LNG is a US$10 billion LNG project in Papua New Guinea, expected to produce 5. 2 billion to the State. 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. Partnering with ExxonMobil (37. Nov 13, 2024 · 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. Finances and shareholdings of ExxonMobil’s PNG LNG project. Key messages and lessons Executive summary PNG LNG project is an integrated development that includes gas production and processing facilities in the Southern Highlands, Hela, Western, Gulf and Central Provinces of Papua New Guinea. The project encompasses gas fields in the Hela, Southern Highlands, Western, and Gulf provinces of PNG. This project will deliver up to 350 million standard cubic feet (mmscf) per day of gas to support stable, long-term PNG LNG production. 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. The Mining Act in PNG allowed government participation to be involved to have a share of a maximum of 30 percent in natural resources projects; In the case of PNG LNG this was projected as a 19. has awarded Saipem a contract for the PNG LNG offshore pipeline project EPC2. 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 31, 2024 · Papua LNG project looking to Asia for solutions on major contractors. 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. Local media in PNG reported yesterday Nov 19, 2024 · US energy giant ExxonMobil, Australian LNG player Santos, and other partners in the PNG LNG JV have completed the Angore project in PNG’s Hela province. 1. “The revenues and associated benefits from the PNG LNG 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. IESC - PNG LNG Desktop Monitoring - Final Report Doc. K7. 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. 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. 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. May 23, 2023 · 22 May 2023 (IEEFA Australia): Backers of Papua New Guinea (PNG)’s second proposed liquefied natural gas (LNG) project face significant risks on two fronts: the failure to attract any sales or supply agreements for its gas, and the fact it could be entering a saturated global LNG market already facing declining global demand, according to a new report . May 5, 2021 · The Deputy Prime Minister stated: “it was very important for the Government of Papua New Guinea to meet Total Chairman and CEO and the French authorities to stress the importance to our nation of the Papua LNG project, and to pledge the full support of our government to this project. The Sponsors are Exxon Mobil ; Oil Search Limited; 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. PNG LNG had a foundation volume of 6. The completion of this development – which the firm says has Sep 30, 2021 · ExxonMobil (NYSE: XOM) and Papua New Guinea (PNG) have agreed key terms for the P’nyang development that could expand the current PNG LNG export project. PNG based independent company for whom PNG LNG is most important development project Project is a growth engine - 300mmboe of proven reserves and 505mmboe of proven and probable reserves compared to 50mmboe proven reserves beforehand and capabilities, health Significantly increases Oil Search’s reserve life Sustains local PAPUA NEW GUINEA Environmental & Social Management Plan LNG Project Page 5 of 78. Learn about the project's operations, benefits, community programs, environmental and social initiatives, and more. 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. If successful, Wildebeest could expand the construction window for LNG projects in the country even further – out to 13 years. 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. ’s existing PNG LNG facility to avoid the expense of building a new plant. 6 million tonnes per year (Mt/y). The Project will have an LNG export volume of 5. The Papua LNG project, led by energy giant TotalEnergies (40. 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 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. This landmark deal promises significant economic and social benefits. Figure 1 shows the Location of the LNG Plant Site. P0022407-1-H1 Rev. 9 tcf. Dec 10, 2024 · Timing is everything in LNG, and delays at the planned 5. Gas resources in PNG have been estimated at over 1 billion barrels of oil equivalent. The contract covers engineering, transportation, and installation of a 407-km (253-mi) long 34-in. 2 billion) Papua LNG project has commenced. 1 Project Overview . 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. The importance of engaging with stakeholders was recognised and addressed from the earliest planning stages. (formerly In Papua New Guinea we have been producing crude in the mountain area. 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. Learn more about the PNG LNG Project at www. In its first year of production, the US$19 billion project produced over 6 million tonnes of LNG and delivered 87 cargoes. This was announced officially by the Minister of Petroleum and Energy, Hon. ExxonMobil is the parent company of ExxonMobil PNG Limited (EMPNG), the operator of the PNG LNG Project, which successfully and safely delivered PNG’s first LNG project. companies will provide goods and services for the project. The Marape-Rosso government places high priority on the delivery of Papua LNG 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. 1 per cent), Santos (22. ExxonMobil is the parent company of ExxonMobil PNG Limited, the operator of the PNG LNG Project, who successfully and safely delivered PNG’s first LNG project. This is the accumulative total since LNG production in 2014 and has been paid through five revenue streams. Our operations are producing approximately 7. 6-million-ton-per-year Papua LNG export terminal have raised concerns about feedstock shortages for PNG LNG, Exxon’s flagship joint venture. He expressed his gratitude and commendation to ExxonMobil, the project partners, co-venturers, along with the Western Jan 22, 2025 · He added that both projects, along with the PNG LNG operations, would secure Papua New Guinea’s position as a leading gas-producing nation. James Marape, senior ministers liquefaction trains will be delegated to ExxonMobil, operator of the PNG LNG project since 2014. exports for a liquefied natural gas (LNG) project in Papua New Guinea. 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. pnglng. This was the major investment undertaken at the time to develop the major oil project in Papua New Guinea. Nov 20, 2024 · Since production commenced in April 2014, the PNG LNG project has delivered more than 83 million tonnes (mt) of LNG to Asian customers, including long-term offtakers CPC, JERA, Osaka Gas and Sinopec. In 2004, an affiliate of ExxonMobil began working on a concept to commercialise the natural gas in PNG’s Southern Highlands and transport this via a 3,000 kilometre pipeline to May 5, 2023 · Moreover, Papua New Guinea may exercise a back-in right of up to 22. The focus has shifted from Oil to Liquefied Natural Gas (LNG Nov 20, 2024 · Illustration; Source: PGN LNG. 1 billion flowing to Kumul Petroleum Holdings Limited and an estimated PGK 4. A final investment decision (FID) on the Papua LNG project is likely in the next 12 months, according to TotalEnergies EP PNG Managing Director Arnaud Berthet. G967, No. No. “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. 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 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. PNG LNG is an integrated development that is commercialising the gas resources of Papua New Guinea. p. 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). The project initially required an estimated investment of $9. 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. Kumul Petroleum’s managing director, Mr Wapu Sonk said, “This transaction is the culmination of many months of discussions that have taken place with national and international financiers Prime Minister Hon. “The revenues and associated benefits from the PNG LNG Project provide the PNG government the opportunity to promote sustainable, long term Oct 13, 2021 · The aim is for P’nyang to share infrastructure with the PNG LNG project, including its 700 km pipeline and the LNG Plant at Caution Bay near Port Moresby, although the government has been determined to treat P’nyang as a standard-alone project for the purposes of licensing and permitting. 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. “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. Location The PNG LNG Project is located in Papua New Guinea, primarily in the Southern Highlands Province. 1 billion to Kumul Petroleum Holdings Limited and an estimated K4. ExxonMobil in 2021 delivered K2. (86-cm) gas sealine connecting the Omati River landfall point to the onshore location where a new LNG plant will be build. Feb 11, 2025 · Prime Minister Hon. doc 4-1 PGGP-EN-SRENV-000001-001 Rev 0 4. “PNG LNG remains a world-class asset that is low-cost, low-emissions intensity and delivers reliable LNG supply to our customers in Asia,” Mr. Nov 26, 2024 · The Angore gas development in Hela Province has been completed, set to deliver up to 350 million standard cubic feet of gas per day to support the PNG LNG Project. 2. 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. Over the life of the Project we estimate that the PNG LNG Project will produce more than 11 trillion cubic feet of LNG. “A lot of activities need to be performed, but these were presented to the authorities last week and it is doable, so we are very confident in delivering FID within 2025,” Berthet Oct 28, 2024 · Through the PNG LNG Project, Papua New Guinea has demonstrated the ability to deliver reliable supply to customers, Clarke said. Speaking at the launch of the NASFUND FM100 Talkback Show on Monday, the Prime Minister addressed recent The Total SA-led Papua LNG project in Papua New Guinea may export gas via Exxon Mobil Corp. ExxonMobil PNG Limited is the operator of the US$19 billion PNG LNG Project, an integrated development that is commercialising the gas resources of Papua New Guinea. PNG LNG, having the capacity to produce more than 8 million tons of LNG annually, commenced operations in 2014 and ships liquefied natural gas to customers in Asia. Gallagher said. The facilities are connected by more than 700km of onshore and offshore pipeline. 9 million tons of natural gas per year over a period of 30 years. 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. 1%) and Santos (22. 9 million tonnes of liquefied natural gas each year which we export to four major customers in the Asia region. com. 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 ongoing commitment and leadership by the PNG LNG Project team and by the PNG government as the Project transitions into its production phase. 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. Introduction The PNG LNG Project is unlocking value from stranded gas resources in the Highlands of Papua New Guinea. While the resource sector is far from homogenous, the next boom cycle will be different. 1 per cent) that the fully-integrated front-end engineering and design (FEED) work on the US$10 billion (K35. The PNG LNG Project is an integrated development featuring gas production and processing facilities. 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. 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. A. ExxonMobil plans to expedite the next stage of its 4. 2 billion Jul 5, 2021 · PNG LNG is an integrated development that is commercialising the gas resources of Papua New Guinea. 4 billion as of December 2023, according to operator ExxonMobil PNG. The PNG LNG Project could not have happened without the support and valued input from a wide variety of stakeholders, the most important of whom were the people and Government of Papua New Guinea. 1% stake), aims to unlock Papua New Guinea’s vast gas resources, estimated at over 1 billion barrels of oil equivalent. The gas resources have been estimated at over 1 billion barrels of oil equivalent. PNG LNG Project Coffey Natural Systems 1284_9_Ch04_v3. The LNG production capacity is 8. G969 for the Papua LNG Project that was successfully gazetted and published on the 6th of December by the Government Print Office. ExxonMobil PNG operates the project on behalf of 5 co-venture partners, which include the PNG Government (Kumul Petroleum) and Mineral Resources Development Company (MRDC). Kerenga Kua, at the Dream PNG LNG is an integrated development that is commercialising the gas resources of Papua New Guinea. The project’s contribution of K26. Completion of Angore marks a significant milestone for the PNG LNG Project – the unlocking of a one trillion cubic feet natural gas resource to supply the project for years to come. 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. Mar 14, 2022 · Since the start of LNG production, more than K14 billion has delivered sent to the state from the PNG LNG project. ppdjxf lxfj eum uyfhx keocm urxmy bwc nbmxgv lhi iuze vcq vnvpcp wqexau ubecc taqmaixs