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.

ExxonMobil Corp. has told investors about the latest schedules for its various liquefied natural gas projects worldwide including a delay in the “mechanical completion” of the Golden Pass LNG export plant on the Gulf Coast and with progress promised in 2024 on Mozambique LNG and on the expansion joint venture in Papua New Guinea.

Asia-Pacific LNG operator Santos has secured significant additional carbon-storage acreage after being awarded a Gas Storage Retention Licence with a joint venture partner at a site west southwest of Moomba in South Australia where Santos is already constructing one of the world’s first industrial carbon-capture and storage (CCS) projects.

Australian liquefied natural gas plant operator Santos reported a decline in LNG sales income as production and Asia-Pacific prices fell and the Darwin plant continued to suffer feed-gas issues as the supplying field depleted.

ExxonMobil Corp., the largest US oil company and leading LNG producer and a partner of Qatar, said changes in natural gas prices would impact its second-quarter Upstream earnings by $1.8 billion to $2.2 billion compared with the first quarter even as the company was also overhauling trading activities and embarking on oil projects in Guyana and LNG expansion.

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.

TotalEnergies, one of the leading global liquefied natural gas market participants and with plans to re-start the onshore Mozambique LNG export project and expand Papua New Guinea LNG, reported a 12 percent increase in first-quarter net profits compared with the 2022 quarter even amid a softening of oil and gas prices.

March 17 (LNGJ) - A joint venture comprising JGC Holdings of Japan and South Korea’s Hyundai Engineering & Construction of South Korea have been awarded downstream contracts for the Papua New Guinea LNG expansion project. JGC and Hyundai were awarded a front-end engineering and design (FEED) contract and an engineering, procurement and construction (EPC) estimation contract as part of a competition by PNG plant operator ExxonMobil on behalf of the Papua LNG project partners.

   The project is to build 4 million tonnes per annum of LNG liquefaction capacity adjacent to the existing PNG LNG plant located northwest of the capital Port Moresby. It also includes the use of 2 MTPA of liquefaction capacity in the existing two Trains at PNG LNG. The expansion will use feed gas from the onshore Elk-Antelope gas field.

Australian LNG operator Santos delivered a doubling of annual LNG sales revenues while advancing expansion plans in Australia and Papua New Guinea as prices rose with increasing demand even amid an Asia-Pacific economic slowdown.

Papua New Guinea Prime Minister James Marape urged Australian LNG and mining sector investors to “take my people with you” in an address to a mining and petroleum conference in Sydney on future development projects in his Oceania nation.