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Project Insights

Papua LNG one step closer to FID after Total agrees concessions

Total has moved nearer to making FID on the project in early 2020 after agreeing a series of last-minute concessions with PNG’s new government Total has moved nearer to making FID on the project in early 2020 after agreeing a series of last-minute concessions with PNG’s new government.
By Sally Bogle 6 September 2019 Asia Pacific / LNG 0 34559
A tanker docked at the PNG LNG plant. (Santos)

A new agreement between the government of Papua New Guinea and French major Total means the company’s Papua LNG project could still begin exporting in 2024, providing similar terms are agreed for its upstream component.

After two weeks of tense negotiations in Singapore – during which it looked at times as if the $10 billion project could be in jeopardy – PNG’s new government announced on Tuesday that it had agreed revised terms with the French group, enabling Papua LNG “to proceed full...