PNG LNG progress
Feb 12 (LNGJ) - French major Total, operator of the Papua LNG feed-gas assets, and joint venture partners ExxonMobil and Australia-listed Oil Search have signed a Fiscal Stability Agreement with Papua New Guinea. “The Fiscal Stability Agreement is the final step envisioned under the Papua LNG Gas Agreement to guarantee Papua LNG fiscal stability,” said Oil Search. It follows the amendments to Acts passed by the PNG Parliament in November 2020.
“We are pleased to see further progress achieved on Papua LNG,” said Keiran Wulff, Oil Search's Managing Director in regard to the PNG LNG expansion project to more than double current output. “It also demonstrates increasing alignment between the PNG Government and the joint venture partners. We look forward to progressing Papua LNG and announcing further milestones consistent with our Strategic Review,” added Wulff.
Papua New Guinea LNG plant posts record output as three-Train expansion talks continue
The Papua New Guinea LNG export plant has achieved record production as talks continued in January on the expansion project to reach an “equitable” solution for both the government and the energy companies.
Papua New Guinea LNG expansion project moves forward with accord on gas field stakes
Australian energy company Santos has signed up for a stake in the P’nyang natural gas field in Papua New Guinea that will underpin its full participation in the PNG LNG expansion projects and allow the venture to move forward.
Papua New Guinea LNG expansion accord on track for April as engineering work advances
Oil Search, a shareholder in the Papua New Guinea LNG export plant and its expansion project, said that the next stage of PNG’s gas development must move forward in a timely and responsible way and be a project that is sustainable and beneficial for the nation.
