Papua New Guinea government backs Papua LNG gas deal

Papua New Guinea backs Papua LNG gas dealImage courtesy of Total

The government of Papua New Guinea has agreed in principle to support the Papua LNG gas agreement. 

However, the government is reserving rights to discuss a shortlist of matters with the developers.

The Papua LNG gas agreement, signed by all joint venture parties, Total (operator), ExxonMobil and Oil Search, as well as the government, was a key prerequisite for entering the FEED phase of the Papua LNG project while signing a gas agreement for the P’nyang field is a requirement for launching the FEED phase of the proposed three-train LNG downstream development.

PNG’s petroleum minister Kerenga Kua said, “We believe that what we have discussed and agreed to are favorable and will not affect the general economics and fiscal terms of the Papua LNG Gas Agreement, however those matters are of relevance to the State and this will be placed on the table for consideration by the joint venture partners.”

Kua noted that the discussions continue on Monday, August 5, and it would not take more than two weeks to conclude.

In response to minister Kua’s comments, Oil Search’s managing director Peter Botten said the government’s support is encouraging, noting the company supports the operator and the government “in resolving any final questions on Papua LNG gas agreement, so that the P’nyang gas agreement can be finalized and the PRL 15 and PNG LNG joint ventures can proceed into the front-end engineering and design phase of the integrated three-train development in a timely manner.”

The Papua LNG joint venture is also working with the government on finalizing the national content plan for the project, Botten said.

Share this article

Follow LNG World News

Events>

<< Oct 2019 >>
MTWTFSS
30 1 2 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30 31 1 2 3

Budapest LNG Summit 2019

The Budapest LNG Summit is a niche event focused on the up and coming LNG region of Central & Eastern Europe (CEE).

read more >

5th CWC China LNG & Gas International Summit & Exhibition

5th CWC China LNG & Gas International Summit & Exhibition will return 16 – 17 October 2019, bringing together the key players…

read more >

LNG Bunkering Mediterrean

The only 3-day course offering theoretical and practical training on LNG bunkering designed by the Mediterranean market leaders.   

read more >

6th Mozambique Gas Summit & Exhibit

This year’s edition will have a revamped programme for attendees.

read more >