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Sustained low temperatures have depleted storage levels and exposed the EU’s vulnerability to shocks even as the bloc moves ahead with phasing out all Russian imports
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A new force in US LNG
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Letter from Qatar: Greater purpose and direction for LNG
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With marketable supply unlikely to grow significantly and limited scope for pipeline imports, Brazil is expected to continue relying on LNG to cover supply shortfalls, Ieda Gomes, senior adviser of Brazilian thinktank FGV Energia, tells Petroleum Economist
An LNG tanker docks at PNG LNG, Caution Bay
Papua New Guinea LNG
Simon Ferrie
3 December 2024
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Papua LNG set for FID next year

Papua New Guinea’s LNG sector appears to be back on track, with other projects in the pipeline

The 6mt/yr Papua LNG project appears to remain on track for FID next year, as the developers make progress in lowering the costs that previously stalled their investment decision. Australia’s Santos stated in its latest results that the partners —comprising operator TotalEnergies, ExxonMobil and Japan’s JX Nippon—are working “to find the necessary technical optimisations to lower the cost of the project” and have opened the EPC process “to a larger number of contractors to obtain more commercially viable offers”. “Priority is to complete the rebid phase and progress to target FID in 2025,” confirmed Santos. Wapu Sonk, managing director of NOC Kumul Petroleum, also recently said that Papua LN

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