Total, ExxonMobil, Oil Search Sign Papua LNG Agreement
Total and its partners ExxonMobil and Oil Search signed a gas agreement with Papua New Guinea defining the fiscal framework for the Papua LNG Project. The agreement allows the partners to enter the front-end engineering design (FEED) phase of study that will lead to the final investment decision in 2020.
“The finalization of the gas agreement is a major milestone for Papua LNG project that confirms the commitment of all partners and the Government of Papua New Guinea to make the project a success for all stakeholders”, said Patrick Pouyanné, chairman and CEO of Total. “We are very pleased with the progress of this competitive LNG project that benefits from the brownfield synergies with existing liquefaction facilities and the proximity to Asian markets. It will further strengthen our position in the Pacific basin and ensure our future LNG portfolio growth.”
The Papua LNG project of 5.4-mtpa capacity will consist of two LNG trains of 2.7-mtpa capacity each and will unlock over 1 billion BOE of natural gas resources. The gas production will be operated by Total and the LNG plant will be developed with the ExxonMobil-operated PNG LNG project through an expansion of the existing plant in Caution Bay.
Total operates the Elk and Antelope onshore fields and is the largest shareholder of the PRL-15.
Saudi Aramco Shipping Unit Expresses Interest in LNG Tankers
Bahri, Saudi Arabia's national shipping carrier, is looking into chartering as many as 12 LNG tankers starting in 2025, according to a new Reuters report. The EOI may be part of Saudi Aramco's expansion into LNG trading.
First Deck Stacking Operation Completed for Coral FLNG Topsides Modules
The Eni-operated project will be the first FLNG vessel deployed in a deepwater field offshore the African continent upon its projected 2022 startup. Samsung Heavy Industries completed the operation at its shipyard in Geoje, South Korea.
Shell, Energy Transfer Issue Tender Package for Lake Charles Project
The tender invites EPC contractors to develop a commercial bid for the lump-sum turnkey contract based on a fully developed scope related to design, engineering, technical, and safety specifications for the project. Commerical bids are expected next year.
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