Singapore — The Papua New Guinean government and the joint venture participants of the Total-led PNG LNG project are set to announce a gas deal April 5, for the development of the 8 million mt/year LNG export plant, PNG's Prime Minister Peter O'Neill said Tuesday at the third Papua New Guinea Petroleum and Energy Summit in Port Moresby.
Not registered?
Receive daily email alerts, subscriber notes & personalize your experience.
Register NowThe plan is for the construction of three 2.7 million mt/year LNG trains on the existing PNG LNG plant site.
Two of the three trains are to be supplied with gas from the Elk-Antelope fields, while one train is to be supported with gas from the existing PNG LNG fields and the P'nyang field, S&P Global Platts previously reported.
The project will approximately double the country's LNG export capacity, adding to PNG LNG's 6.9 million mt/year production nameplate.
The agreement between the government and the PNG LNG partners follows a memorandum of understanding announced November 16, which provided the key terms and conditions, including tax rates and domestic market obligations.
Total, Oil Search and ExxonMobil are participants in the LNG project.
Oil Search (29%) and ExxonMobil (33.2%) also hold stakes in PNG LNG along with Santos (13.5%), National Petroleum Company of PNG (16.8%), JX Nippon Oil and Gas Exploration Company (4.7%) and Mineral Resources Development.
-- Abache Abreu, abache.abreu@spglobal.com
-- Edited by Shashwat Pradhan, newsdesk@spglobal.com