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Policy & Regulation

Tougher terms to cause more delays at PNG LNG

PNG’s new prime minister is clamping down on favourable terms ExxonMobil has long enjoyed for its PNG LNG project as he seeks to reap greater financial rewards for the state PNG’s new prime minister is clamping down on favourable terms ExxonMobil has long enjoyed for its PNG LNG project as he seeks to reap greater financial rewards for the state.
By Sally Bogle 28 November 2019 Asia Pacific / Exploration & Production 0 34829
The capitral of Papua New Guinea, Port Moresby. (PA)

The key issue: Papua New Guinea’s new government is continuing to tighten fiscal terms. These are perceived by some in PNG to have been unduly favourable to ExxonMobil at the expense of the nation’s economic prosperity.

Interfax analysis: ExxonMobil’s plan to go to FEED by year-end on its expansion plan for the PNG LNG project looks in jeopardy after the government said it will impose tight fiscal terms on development of the P’nyang gas field, the project’s upstream component.

Petroleum Minister Kerenga Kua said on...

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