The French oil and gas company TotalEnergies, the operator of the proposed Papua LNG project in Papua New Guinea, plans to make a final investment decision (FID) on the project in 2025. FID was initially expected in late 2023 or early 2024 but additional work on EPC contracting will be required before reaching FID. In addition, TotalEnergies intends to drill the first deepwater exploration well on the PPL 576 license in 2025.
The Papua LNG project is developed by TotalEnergies (37.55%), in partnership with ExxonMobil PNG (37.04%), Santos (22.83%), and JX Nippon Oil (2.58%). It will consist of four electrical LNG trains (e-trains) with a total capacity of 5.6 Mt/year. These trains will be built within the existing liquefaction plant of PNG LNG in Caution Bay (7 Mt/year, commissioned in 2014 and operated by ExxonMobil). Papua LNG has also secured the use of 2 Mt/year of additional liquefaction capacity in the existing trains of PNG LNG. First production anticipated in 2028 at the earliest. Several Asian LNG buyers have already expressed their interest in the project.
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