Total: MoU for Papua NLG project

(CercleFinance.com) - Total and its partners have announced signing a MoU with the State of Papua New Guinea defining the key terms of the gas agreement for the Papua LNG project, which is expected to be finalised by the end of the first quarter of 2019.


As the operator of the Elk and Antelope Land deposits, Total is the largest shareholder of the PRL-15 permit, with a 31.1% stake, alongside ExxonMobil (28.3%) and Oil Search (17.7%), after the state exercised its entry fee of 22.5%.

Papua LNG will include two liquefaction trains of 2.7 million tonnes p.a. each and will be developed in synergy with existing PNG LNG installations. Total and its partners will launch the first phase of the engineering studies of this project.

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