Exxon forces consolidation on Papua New Guinea’s LNG
The US firm’s deal for a stake in a second gas-export project looks like a defeat for rival operator Total. But the synergies make sense
Total looks to have relinquished a stake in its planned Papua LNG project to ExxonMobil after the US major successfully trumped an earlier takeover bid for InterOil by Oil Search, the French group's two partners in its planned Papua New Guinea gas project. It follows a similar A$11.6bn ($8.9bn) bid for Oil Search by Australia's Woodside Petroleum last year. At first sight, the tussle for Canadian-registered mid-cap InterOil appears counterintuitive in a region awash with liquefied natural gas. But the opportunity to extract significant, high-quality gas at low cost is what is driving the bids. Of prime appeal is InterOil's 36.5% interest in PNG's offshore tenement PRL 15, which includes the
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Europe has transformed into a global LNG demand powerhouse over the last few years, with the fuel continuing to play a key role in safeguarding the continent’s energy security, Carsten Poppinga, chief commercial officer at Uniper, tells Petroleum Economist
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Sempra Infrastructure’s vice president for marketing and commercial development, Carlos de la Vega, outlines progress across the company’s US Gulf Coast and Mexico Pacific Coast LNG portfolio, including construction at Port Arthur LNG, continued strong performance at Cameron LNG and development of ECA LNG
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US LNG exporter Cheniere Energy has grown its business rapidly since exporting its first cargo a decade ago. But Chief Commercial Officer Anatol Feygin tells Petroleum Economist that, as in the past, the company’s future expansion plans are anchored by high levels of contracted offtake, supporting predictable returns on investment
