Papua LNG FID expected by 15 December: PNGCORE

Spanish Market: Natural gas
03/11/26

The proposed 5.6mn t/yr Papua LNG project in Papua New Guinea is on track to reach a final investment decision (FID) by 15 December, the leader of the nation's industry association the chamber of resources and energy (PNGCORE) said, following the close of the scheme's development forum.

The $14.5bn development is ready for partners to take FID following the forum where the national government and stakeholders from the Gulf and Central provinces negotiated a balanced agreement, now passed through the PNG parliament, PNGCORE president Anthony Smaré said on 2 November.

The project's operatorship is slated to pass from TotalEnergies to ExxonMobil, which has operated the associated PNG LNG terminal at Caution Bay since 2014, following a September agreement.

A FID was planned for November, TotalEnergies chief executive Patrick Pouyanne said on July, prior to announcement of the operatorship transfer.

The project was delayed by higher-than-expected costs and an expected oversupply of LNG later this decade, but the turmoil in the Middle East has cemented PNG's reputation as a reliable supplier of gas for more than a decade, distant from any likely chokepoint, Smaré said.

Upon completion of the operatorship transfer and a selldown of its stake, TotalEnergies will hold 20pc interest in the project, alongside ExxonMobil's 34.1pc, Australian independent Santos' 21pc, Japanese refiner Eneos' 2.4pc, and PNG's national oil and gas firm Kumul Petroleum and state-owned MRDC's 22.5pc.

By Tom Major

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02/11/26

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TotalEnergies buys stake in Malaysia gas fields

02/11/26

TotalEnergies buys stake in Malaysia gas fields

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Adnoc CEO warns energy supply buffers have ‘eroded’

02/11/26

Adnoc CEO warns energy supply buffers have ‘eroded’

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Triple crisis threatens France’s electrification drive

30/10/26

Triple crisis threatens France’s electrification drive

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Petrobras launches open call for RNG suppliers

30/10/26

Petrobras launches open call for RNG suppliers

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