Papua LNG project moves to FEED stage: what’s next?
Source: Business Advantage PNG
The TotalEnergies-led Papua LNG gas project in Papua New Guinea has officially entered its FEED [front end engineering and design] stage – the last major stage before the $US10 billion project is given a green light. We look at what happens next.
Prime Minister James Marape and Minister for Petroleum Kerenga Kua with representatives from TotalEnergies, Santos and ExxonMobil at APEC House on 6 March 2023 during the announcement of Papua LNG’s FEED stage. Credit: PNG Office of the Prime Minister
A long-awaited milestone towards Papua New Guinea’s next phase of economic growth was reached yesterday with the announcement by joint venture partners, TotalEnergies (40.1 per cent), Santos (22.8 per cent) and ExxonMobil (37.1 per cent) that the fully-integrated front-end engineering and design (FEED) work on the US$10 billion (K35.2 billion) Papua LNG project has commenced.
The announcement was made at a function at APEC Haus in Port Moresby.
Assuming a final investment decision (FID) is made late in 2023 or early 2024, as now suggested, Papua LNG will become PNG’s second major gas project.
FID would mark the beginning of a four-year construction phase, with first production expected by the end of 2027 or early 202.....
To view the full story, please visit:
https://www.businessadvantagepng.com/papua-lngs-move-to-feed-stage-to-ignite-png-economy/
— Authored by Mark Story