LNG

June 5 (LNGJ) - JX Nippon Oil and Gas Exploration Corp. has purchased a micro-stake of 2.58 percent as part of a farm-in agreement with French major TotalEnergies in the Papua New Guinea LNG expansion. JX Nippon is buying the stake for an undisclosed sum in PRL15 licence for the Papua LNG project located onshore and with planned production capacity of 5.6 million tonnes per annum.

   The Papua project aims to produce LNG from the onshore Elk-Antelope gas fields in PNG’s Gulf Province. The natural gas will be transported via pipeline to the existing liquefaction plant at Caution Bay near Port Moresby and operated by ExxonMobil.