Papua lng fid 83 per cent) and JX Nippon (2. Jan 22, 2025 · However, he emphasized that project partners have re-engineered the project and are now on track for a final investment decision later this year. The gas resources have been estimated at over 1 billion barrels of oil equivalent. Mar 7, 2023 · The State of Papua New Guinea may exercise a back-in right of up to 22. Aug 11, 2023 · THE Papua LNG project is on track for a Final Investment Decision (FID) in the first quarter (Q1) of 2024. The TotalEnergies-led Papua LNG project will face challenges in 2024, including a potential delay to its final investment decision (FID) and higher costs associated with construction, due to overlapping demand from rival projects overseas, Petroleum and Energy Minister Kerenga Kua said at the PNG Resources and Energy Investment Conference in Apr 14, 2025 · In June 2024, LNG Prime reported that Wison had won a US$1 billion contract to build the FLNG facility. TotalEnergies sells Papua LNG stake May 5, 2021 · France’s Total said Wednesday it aims to take a final investment decision on the Papua LNG project in Papua New Guinea in 2023. 8%), the project is inching closer to development. The announcement follows a meeting by Total’s CEO Patrick Pouyanne and a delegation led by PNG’s Deputy Prime Minister Samuel Basil. Apr 8, 2024 · A meeting between the Chief Executive Officer (CEO) of French energy giant TotalEnergies and the Prime Minister of Papua New Guinea has enabled the duo to discuss the development of a liquefied natural gas (LNG) project for which a final investment decision (FID) has now been moved to 2025. The Papua LNG project, led by energy giant TotalEnergies (40. 4 million tonne a year liquefied natural gas (LNG) project that will target the production of the two main discoveries of Block PRL-15 gas fields, Elk and Antelope. 6mn t/yr Papua LNG export terminal, with synchronisation between the two projects seen as guiding the investment timeline. FID was initially expected in late 2023 or early 2024 but additional work on EPC contracting will be required before reaching FID. Feb 7, 2025 · TotalEnergies says it is now not expecting to receive final tender offers until September for the much-delayed Papua LNG project in Papua New Guinea. The Final Investment Decision (FID) is planned by the end of 2023 or early 2024. “The integrated FEED entry is a significant step in the development of the Papua LNG project. With an annual LNG export capacity of 5. Feb 12, 2025 · The PNG Government is committed to advancing the Papua LNG project, with Prime Minister James Marape confirming that final investment decision (FID) is expected by the end of the year. Apr 8, 2024 · TotalEnergies has postponed a final investment decision on the planned Papua LNG project in Papua New Guinea to 2025, from an earlier expected date of this year, according to the joint statement released by the Independent State of Papua New Guinea and TotalEnergies April 8. While several factors have delayed the final investment decision on Papua LNG, Papua New Guinea’s second gas project, Jean-Marc Noiray, Managing Director of project lead TotalEnergies E&P PNG, says he’s “confident” the project will reach that landmark this year, “with all the lines of activity progressing well: technical optimisation, regulatory permitting, gas marketing and project Apr 9, 2024 · TotalEnergies SE disclosed the final investment decision (FID) for an LNG expansion project in Papua New Guinea would be pushed back by at least one year as the project partners hunt for more Feb 11, 2025 · PRIME Minister Hon. The Project. A final investment decision (FID) on the 5. 6mn t/yr Papua LNG project in Papua New Guinea is likely to be taken in late 2025, Australian independent Santos' chief executive Kevin Gallagher told an investor call marking the firm's half-year results to 30 June. Addressing recent delays in the project, Marape said cost escalations had necessitated a review of engineering, procurement, and construction contracts to align Apr 14, 2023 · The fully integrated Front-End Engineering Design (FEED) for the Papua LNG project was launched in March 2023. 6 million tonnes per year (Mt/y). . 1%) and Santos (22. Dec 16, 2024 · The $10 billion Papua LNG project will develop nine production wells, a gas processing plant, and a 320 km pipeline connecting to ExxonMobil’s LNG facility near Port Moresby. “We're working with the joint venture partners on Papua to reset the FEED phase of the project, as you're well aware. Feb 13, 2025 · Italy's largest banking group, Intesa Sanpaolo , and the Asian Development Bank (ADB) said they will not finance a $10 billion LNG project in Papua New Guinea, as environmental groups lobby Nov 19, 2024 · Santos eyes new Papua New Guinea gas projects to feed LNG machine. 5% stake in the project. Gas resources in PNG have been estimated at over 1 billion barrels of oil equivalent. 04 per cent), Santos (22. 3mt/yr PNG LNG facility. It is unclear what effect the delay may have on the anticipated 2028 startup. It is understood at this stage, developers are jointly consulting various financiers from a wide range of banks and credit agencies from several countries for the US$10 billion project. Papua LNG is a liquefied natural gas (LNG) project led by TotalEnergies, with a 37. Feb 10, 2025 · TotalEnergies and Exxon Mobil say they are still working toward a final investment decision (FID) on the delayed Papua LNG project amid efforts to reduce costs. James Marape has reaffirmed his government’s commitment to advancing the Papua LNG project, confirming that Final Investment Decision (FID) is expected by the end of 2025, paving the way for a new wave of economic growth in Papua New Guinea’s oil and gas sector. 6 million tonnes, the project is strategically positioned to serve nearby Asian markets like Japan, China, and South Korea. “Both TotalEnergies and ExxonMobil, the lead investors, remain committed to ensuring Papua LNG progresses,” Prime Minister Marape stated. Jan 22, 2025 · The discussions in Davos also centered on expediting the final investment decisions (FID), construction, and first gas production for the Papua LNG project, with plans to transition resources to advance the P’nyang LNG project afterward. According to the managing director of Kumal Petroleum, this project would help export gas from Apr 9, 2024 · TotalEnergies and partners in the Papua LNG project will postpone a final investment decision to 2025. Mar 7, 2023 · Assuming a final investment decision (FID) is made late in 2023 or early 2024, as now suggested, Papua LNG will become PNG’s second major gas project. FID would mark the beginning of a four-year construction phase, with first production expected by the end of 2027 or early 2028. Apr 8, 2024 · As a consequence, FID of Papua LNG project is now expected in 2025. Papua LNG in brief. Aug 22, 2024 · Australia’s Santos and its partners plan to make the final investment decision (FID) on the Papua LNG project in Papua New Guinea by the end of 2025, Santos CEO Kevin Gallagher announced during earnings call on August 21. Aug 23, 2024 · August 23, 2024 [S&P Global]- TotalEnergies has postponed a final investment decision on the planned Papua LNG project in Papua New Guinea to 2025, from an earlier expected date of this year, according to the joint statement released by the Independent State of Papua New Guinea and TotalEnergies April 8. The estimated US$10 billion project will effectively involve two parts. Speaking at an industry event, Marape reaffirmed “The commencement of upstream FEED studies is another significant step towards developing the Papua LNG project, which will increase Papua New Guinea’s LNG export capacity and thus contribute to its further development,” said Julien Pouget, Senior Vice President Asia Pacific for Exploration & Production and Renewables at TotalEnergies. 58%), remain “fully committed” to Papua LNG. 58 per cent). France's Total hopes to move to a final investment decision on the planned two-train 5. 5% interest at the Final Investment Decision planned by end 2023-early 2024. “The commencement of upstream FEED studies is another significant step towards developing the Papua LNG project, which will increase Papua New Guinea’s LNG export capacity and thus contribute to its further development," said Julien Pouget, Senior Vice President Asia Pacific for Exploration & Production and Renewables at TotalEnergies. Partnering with ExxonMobil (37. The Prime Minister and Patrick Pouyanné agreed that this slight delay will not affect the early works planned in Papua New Guinea in 2024 and that the project will maintain its full support to local population of Gulf Province. Production start-up is scheduled four years later. Mar 21, 2023 · With so many billions of dollars at stake, the front-end engineering design is a significant milestone towards a Final Investment Decision (FID), its eventual construction, and finally into production. quarter of 2022. Jul 20, 2022 · “The commencement of upstream FEED studies is another significant step towards developing the Papua LNG project, which will increase Papua New Guinea’s LNG export capacity and thus contribute to its further development," said Julien Pouget, Senior Vice President Asia Pacific for Exploration & Production and Renewables at TotalEnergies. More delays at Total’s project may prompt Exxon to fast track development of the onshore P’nyang gas field, or even look to take control of Papua LNG. The fields could be brought on stream by late 2027 or early 2028. 2 percent operating interest in PNG LNG. Total being the second-largest world private LNG player, we are fully committed to the success of the Papua LNG project, which benefits from a favorable geographical location close to Asian markets. The Papua LNG project is viewed as a cornerstone of PNG’s broader economic strategy, leveraging its vast natural gas reserves to attract foreign investment and Sep 15, 2023 · TotalEnergies, the global energy giant, has assured Papua New Guinea of its commitment to its ambitious Papua LNG project. Since then exploration activities went on without commercial discoveries until 1986 A final investment decision (FID) on the 5. Feb 13, 2025 · Papua New Guinea Prime Minister James Marape has confirmed the final investment decision (FID) for the Papua LNG project is expected by the end of 2025. It began with a group of Australian geologists who first came in 1913 to PNG to investigate prospects of hydrocarbon on behalf of the Australian Government. Papua New Guinea’s ambitious Papua LNG project is moving closer to a Final Investment Decision (FID), with Prime Minister James Marape confirming that significant progress has been made despite economic and logistical challenges. Feb 11, 2025 · Prime Minister Hon. The scheme will be Papua New Guinea’s second LNG development and is closely tied into the existing, ExxonMobil-led 8. Aug 22, 2024 · TotalEnergies and its partners plant to take a final investment decision on the Papua LNG export project in Papua New Guinea at the end of 2025, according to Santos CEO Kevin Gallagher. [3] Aug 10, 2022 · Papua LNGは、既設のPNG LNGの敷地内に建設する予定であり、ユーティリティなどインフラ設備はコスト軽減の目的でPNG LNGと共同使用され、ExxonMobilがすべてのLNGトレインの操業を担当、TotalEnergiesは出荷等の運転に責任を負うことになっていた。 Feb 7, 2025 · Marape confirmed “substantial” progress on the re-engineering and re-scoping of Papua LNG, which is now moving toward the next phase of development. May 24, 2023 · The advantages of having a second Liquefied Natural Gas (LNG) project in a country like Papua New Guinea is important and strategic in that the people are attached to the land, and they want to feel they are part of the extraction of resources and wealth -- and they can only do that through the development of their customary land. The gas produced by these fields will be transported by a 320 kilometres onshore/offshore pipeline to Caution Bay site in order to be liquefied. Apr 8, 2024 · In March 2023, the Papua LNG partners launched fully-integrated front-end engineering and design (FEED) for the project, while TotalEnergies sold a small stake in the project to Japan’s JX Nippon Oil & Gas Exploration in June. The oil major confirmed that the project remains on track for a Final Investment Decision (FID) next year, with the first liquefied natural gas (LNG) production anticipated between 2027 and 2028. Santos Pushes Papua LNG FID to End-2025 Jan 10, 2025 · FID on the separate, long-delayed, TotalEnergies-led Papua LNG project — which was due to help backfill PNG LNG — could still be a year away. Mar 7, 2023 · A final investment decision (FID) for Papua LNG is expected at end-2023 or early 2024 with construction to begin in 2024. “Pouyanne provided updates on Papua LNG’s progress, assuring us that the project remains on track despite earlier delays due to cost concerns,” he said. FID-readiness in 2026 targeted for Agogo and Moran non-associated gas project to supply volumes to PNG LNG PNG's government in March signed a fiscal stability agreement for the P'nyang project with PNG LNG partners. After pushing the project's final investment decision Apr 21, 2021 · Background – Petroleum Industry in Papua New Guinea The exploration for petroleum in Papua New Guinea has a long history which dates back to early 1900s. "The Aug 21, 2024 · Santos CEO Gallagher outlined delays in four projects — LNG, oil, gas and CCS — on his company's midyear earnings call. A final investment decision (FID) for the P'nyang field is targeted for 2029, following the start-up of the planned 5. Watershed decision A new climate bomb. Nov 22, 2024 · We, the joint venture partners of the Tangguh LNG Project led by bp, the project operator, are pleased to announce that we have reached a Final Investment Decision (FID) on the Tangguh Ubadari, CCUS, Compression (UCC）Project (hereinafter “project”), a seven billion US dollar initiative. Papua LNG is a liquefied natural gas (LNG) production project led by TotalEnergies in response to Papua New Guinea’s desire to develop its gas resources. Apr 10, 2024 · The French oil and gas company TotalEnergies, the operator of the proposed Papua LNG project in Papua New Guinea, plans to make a final investment decision (FID) on the project in 2025. Aug 28, 2024 · TotalEnergies and its partners may push a final investment decision (FID) to the first quarter of 2026 for the delayed Papua LNG project amid efforts to reduce costs. Apr 8, 2024 · French oil and gas giant TotalEnergies on Monday said a planned new liquefied natural gas (LNG) project in Papua New Guinea would require 'more work' before a final investment decision decision Nov 16, 2018 · “Investing in LNG is a long term enterprise and our objective is to be able to make the project as competitive as possible. Papua LNG is a liquefied natural gas (LNG) production project with a gas resource estimated at over 1 billion barrels of oil Dec 9, 2024 · If the final investment decision (FID) is approved as planned, construction is expected to commence in early 2026, with the first LNG production projected for late 2027 or early 2028. Papua LNG is a significant investment based on the development of the onshore Mar 25, 2025 · Papua New Guinea’s keystone project, Papua LNG, has faced persistent delays in reaching a final investment decision (FID) over the past several years due to financing difficulties, Key View: Papua New Guinea’s keystone project, Papua LNG, has faced persistent delays in reaching a final investment decision (FID) over the past several years Apr 8, 2024 · As a consequence, FID of Papua LNG project is now expected in 2025. The FLNG is expected to leave the shipyard in Q2 2026 and head toward its final destination at Teluk Bintuni, West Papua. “The commencement of upstream FEED studies is another significant step towards developing the Papua LNG project, which will increase Papua New Guinea’s LNG export capacity and Mar 7, 2023 · Santos also has a 42. The FID delay will not Dec 3, 2024 · A final investment decision (FID) on the Papua LNG project is likely in the next 12 months, according to TotalEnergies EP PNG Managing Director Arnaud Berthet. ExxonMobil holds a 33. The Project will have an LNG export volume of 5. “A lot of activities need to be performed, but these were presented to the authorities last week and it is doable, so we are very confident in delivering FID within 2025,” Berthet Oct 20, 2023 · TotalEnergies and partners expect to take FID on the 6mt/yr Papua LNG project in early 2024 and start production before the end of the decade. At FID, the State of Papua New Guinea may exercise a back-in right to acquire up to 22. The Papua LNG partners plan to take FID by the end of 2023 or early 2024, according to the firm. The operator was expected to formally green light investment in the estimated $10 billion project this year. 6 million mt/year capacity Papua LNG project in Papua New Guinea in 2023, it said May 5, as it begins to remobilize project teams after a one-year delay due to COVID-19. The Project will have a projected LNG export volume of 5. 5 percent interest in PNG LNG and announced a conditional agreement to sell a five per cent interest in PNG LNG to Kumul Petroleum. JX Nippon (2. The focus has shifted from Oil to Liquefied Natural Gas (LNG Papua LNG is a liquefied natural gas (LNG) production project led by TotalEnergies in response to Papua New Guinea’s desire to develop its gas resources. The Papua LNG project alone would increase the country’s annual emissions from the industrial and energy sectors by 7%, resulting in over 220 million tons of CO2 emissions (scope 3), or as much as the annual emissions of the whole of Bangladesh and its 169 million inhabitants. The multi-billion-dollar Liquefied Natural Gas (LNG) project is led by TotalEnergies, ExxonMobil, and Santos, with operations expected to commence in the coming […] Apr 10, 2024 · TotalEnergies will delay its final investment decision on the Papua LNG project to 2025 after initial EPC contract bids were not to its liking. Dec 10, 2024 · Mr Marape said he was optimistic that the final investment decision in Papua LNG would unleash a 10- to 15-year run of oil and gas development, bringing jobs, training and socio-economic advances. The project is targeting a final investment decision (FID) around the end of 2023, and a start-up at the end of 2027. In addition, TotalEnergies intends to drill the first deepwater exploration MNI - Market News Redirecting In March 2023, Kumal Petroleum Holdings, the national oil company of Papua New Guinea, said it was in talks with the developers of Papua LNG and Papua New Guinea LNG Terminal regarding the development of its own 1-mtpa train at the Papua LNG complex. 55 per cent interest, and including ExxonMobil (37. Dec 12, 2023 · Meanwhile, TotalEnergies’ director of corporate affairs in PNG, Richard Kassman, confirmed the French major’s commitment to a final investment decision for Papua LNG next year, with production May 6, 2021 · Papua LNG project is a 5. ” About Total Apr 1, 2025 · The final investment decision was delayed as TotalEnergies began a new process in a bid to improve the EPC costs. 1% stake), aims to unlock Papua New Guinea’s vast gas resources, estimated at over 1 billion barrels of oil equivalent. eknq qzfqmap spx xiprn fipu qgyuu slkr hmex nvcrlhh iab hqbpxl fdmqy sftxqr ptxdcs fwqhbu