BAKU, Azerbaijan, April 8. The FID for TotalEnergies' Papua LNG project has been delayed until 2025, Trend reports.
According to TotalEnergies, the company's CEO Patrick Pouyanné and Prime Minister of Papua New Guinea James Marape held a meeting to review the project.
During the meeting, Pouyanné assured the PM that TotalEnergies and its partners are fully committed to the project. They discussed the interest from many buyers in Asia for the LNG from Papua LNG.
Pouyanné also mentioned that they received some offers, but more work is needed to get the right contracts. They plan to review some parts of the project and invite more Asian contractors to bid. Because of this, the FID for the project will now be in 2025.
Both the PM and Pouyanné agreed that this delay won't affect the plans for early work in Papua New Guinea in 2024. They also affirmed TotalEnergies' support for the local community in Gulf Province.
Additionally, Pouyanné announced that TotalEnergies plans to start drilling the first deepwater exploration well in 2025 on the PPL 576 license.
Meanwhile, Papua LNG is a project by TotalEnergies, aiming to produce LNG in Papua New Guinea. The plan is to produce around 1 billion barrels of oil equivalent. The gas will fuel four liquefaction trains, producing a total of 5.6 million tons per year. The project involves nine production wells, a gas processing plant, a 320 km pipeline (with 260 km offshore), and liquefaction units in Port Moresby.