Papua LNG nearing deal, says PNG Petroleum Minister Kua

Papua New Guinea  PETROLEUM Minister Kerenga Kua says the Papua LNG is on track for final investment decision (FID) next year and construction to begin in 2028.

This follows discussions with operator TotalEnergies in Paris, France this month.

The Government supports and is committed to the project but emphasised the need to learn from the PNG LNG project in areas of landowner identification, biodiversity and environmental consciousness and meaningful national content, provincial and project area local levels.

He said TotalEnergies had confirmed doing advance work to ensure Papua LNG was delivered at low cost, on schedule with low carbon footprint and was a socially and environmentally responsible project.

Kua was accompanied by Kumul Petroleum Holdings Ltd managing director Wapu Sonk.

Both of them briefed TotalEnergies of their meetings in Beijing with Sinopec, one of the leading Chinese LNG buyers in the world.

They also briefed Total on the country’s expectations of the schedule for front-end engineering design (Feed), FID and requirements for national content, social mapping and various other requirements leading to project sanction and Petroleum Development License grant by the State.

TotalEnergies chairman and chief executive officer Patrick Pouyanne, member of the executive committee, and exploration and production president Nicolas Terraz, senior vice-president Asia Pacific Julien Pouget met with Kua and Sonk at the Total’s headquarters. TotalEnergies executive team reaffirmed TotalEnergies commitment to the project timelines and meeting all outstanding requirements before FID.

“Marketing work is ongoing and TotalEnergies and Kumul Petroleum have assembled their marketing team in Singapore. Project financing work will commence soon post completion of the Pre-Feed work,” Kua said.

The National / Pacific Mining Watch

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