Reuters is reporting that the government of Papua New Guinea has renewed its backing for the Papua LNG project, a joint venture between Total, Exxon Mobil Corp and Australia’s Oil Search Ltd.
A deal for the Papua LNG project was previously agreed in April, however it was put up for review after the prime minister who signed it was ousted in a parliamentary vote in May, following a political crisis.
There are reportedly still some terms that require additional negotiation, but the review period seems largely to have concluded positively. According to the newly appointed Petroleum Minister, Kerenga Kua, his government supports the project ‘in principle’.
Papua LNG is part of a US$13 billion project set to double the country’s exports of LNG.
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/05082019/papua-new-guinea-backs-papua-lng/
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