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Project Insights

PNG’s target to double LNG exports in doubt

Plans to double Papua New Guinea’s LNG exports by 2024 look likely to take longer than expected because of an impasse between the government and PNG LNG developer ExxonMobil Plans to double Papua New Guinea’s LNG exports by 2024 look likely to take longer than expected because of an impasse between the government and PNG LNG developer ExxonMobil.
By Sally Bogle 6 February 2020 Asia Pacific / LNG 0 34993
PNG LNG '100th cargo celebration'. (Santos)

The key issue: Papua New Guinea is holding out for more favourable terms from ExxonMobil before signing off on P’nyang, the upstream component of PNG LNG’s one-train expansion plan.

Interfax analysis: News on Friday that Papua New Guinea has halted negotiations with US major ExxonMobil over the planned development of the P’nyang gas field is just the latest sign that Prime Minister James Marape is determined to take a far tougher line with IOCs than his predecessor Peter O’Neill.

Rather than settling for a one-sided...