TotalEnergies announced the decision of the French company-operated Papua LNG joint venture to launch the first phase of front-end engineering and design (FEED) studies for the Papua LNG project's upstream production facilities.
TotalEnergies announced the decision of the French company-operated Papua LNG joint venture to launch the first phase of front-end engineering and design (FEED) studies for the Papua LNG project's upstream production facilities.
“In parallel, studies for the downstream liquefaction facilities are progressing in line with the overall project schedule, and the objective is to launch the integrated FEED in the fourth quarter of 2022. The project is targeting a final investment decision (FID) around the end of 2023, and a start-up at the end of 2027.”
“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."
According to the
Global LNG Database®, the 5.4 MMT/Y Papua LNG project’s shareholders are TotalEnergies (operator) 40.1%, ExxonMobil (following the acquisition of InterOil in Feb. 2017) 36.5%, Santos Ltd (following the acquisition of Oil Search in Dec. 2021) 22.8%, others 0.6%. Papuanewguinea government has option to back-in for up to 22.5% at FID and pay past costs.
The Papua LNG joint venture is committed to developing a landmark project in terms of sustainability, biodiversity, and low carbon emissions. Specifically, the project will incorporate a carbon capture and storage scheme for the fields' native CO2, which will be reinjected into the reservoirs, Total Nergy has remarked.
Earlier related post on Linkedin by Global LNG Info:
Papua LNG Project’s FEED to start in June: Total
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