LNG

TotalEnergies Chairman and Chief Executive Patrick Pouyanné has held discussions with James Marape, the Prime Minister of Papua New Guinea, on the current status of the PNG LNG expansion called the Papua LNG joint venture.

Feb 1 (LNGJ) - Australian LNG developer Santos has agreed to an amendment to a sale agreement with Papua New Guinea company Kumul Petroleum Holdings whereby Kumul will take a 2.6 percent shareholding in the PNG LNG stake owned by Santos.

   Santos said that Kumul had paid US$352 million to Santos on 31 January 2024 to allow partial completion of the transaction. “The amendment provides additional time for Kumul to pay the remaining purchase price of US$241M,” added Adelaide-based Santos.

Papua LNG, the joint venture expansion project in Papua New Guinea involving France’s TotalEnergies, US major ExxonMobil and Australia’s Santos, has launched a full front-end engineering and design (FEED) process to expand the existing PNG LNG plant’s production by up to 6 million tonnes per annum.

Dec 23 (LNGJ) - Santos, the largest shareholder in the Papua New Guinea LNG project operated by ExxonMobil, has extended its pre-emptive rights period for PNG company Kumul Petroleum Holdings to acquire a 5 percent interest from Santos in PNG LNG for an asset value of US$1.4 billion.

   “Kumul has advised Santos it has now extended the period in which the offer will remain open until 30 April 2023,” said Santos. The offer was previously open for acceptance until 31st of December 2022.

Chinese shipbuilding company Wison Offshore & Marine said it signed an accord with US energy and LNG engineering company KBR to cooperate on an LNG project for a state-run company in Papua New Guinea involving the construction of a floating liquefaction hull.