TotalEnergies has recently revealed that it has pushed back the Papua LNG project to beyond 2030.
TotalEnergies has recently revealed that it has pushed back the Papua LNG project to beyond 2030.
Earlier, Global LNG Info Analytics predicted that TotalEnergies would have to postpone the final investment decision (FID) on the Papua LNG as its lengthy bargaining with the project’s EPC contractors to obtain “commercially viable” contracts had not yet been concluded.
According to the
Global LNG Database®, TotalEnergies has already pushed the FID on the 6 MMT/Y Papua LNG project to the second half of 2026 amid its efforts to reduce the project’s capital expenditure.
The French operator has confirmed that “after receiving first EPC offers, it appears that the Papua LNG project will need to keep working with contractors to obtain “commercially viable EPC contracts and requires more work to reach FID.”
The project is also struggling to secure funding. However TotalEnergies has said that “things are on track” as it was "very comfortable" about securing funding for the roughly US$12 billion project, despite European banks' increased reluctance to fund new fossil fuel projects.
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