A Memorandum of Understanding (MoU) has been signed between the Independent State of Papua New Guinea and Total and its partners ExxonMobil and Oil Search. The MoU defines the key terms of the Gas Agreement for the Papua LNG Project, which is expected to be finalised by Q1 2019.
The Papua LNG Project will encompass two LNG trains of 2.7 Mtpa each and will be developed in synergy with the existing PNG LNG project facilities. Total and its partners have agreed to launch the first phase of the engineering studies of this project.
Patrick Pouyanné, Chairman and CEO of Total, said: “Investing in LNG is a long term enterprise and our objective is to be able to make the project as competitive as possible. Total being the second-largest world private LNG player, we are fully committed to the success of the Papua LNG project, which benefits from a favourable geographical location close to Asian markets.”
For more information visit www.total.com
20th November 2018