Total: signs gas agreement for Papua LNG project
(CercleFinance.com) - Total and its partners announce that they have signed the gas agreement with Papua New Guinea, which defines the fiscal framework for the Papua LNG project and enables them to launch engineering studies that will lead to a final investment decision in 2020.
The Papua LNG project, which has a capacity of 5.4 million tonnes per year (Mtpa) will include two liquefaction trains of 2.7 Mtpa each and will exploit gas resources of over one billion barrels of oil equivalent.
The gas production will be carried out by the French energy giant, while the LNG plant will be developed at the PNG LNG project site, operated by its partner ExxonMobil, via an extension of the existing facilities in Caution Bay.
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