Papua New Guinea Prime Minister James Marape on a visit to Australia
Rising costs delay Papua LNG FID
But there is still plenty of appetite for the country’s LNG in the Asia-Pacific region
TotalEnergies has pushed back FID for its 6mt/yr Papua LNG project, citing increased costs. But the French major stressed it remains committed to the development. “FID is now expected in 2025,” a joint statement from TotalEnergies and the government of Papua New Guinea stated. TotalEnergies and the consortium partners made the decision after receiving the first EPC offers for the project, saying that they “will need to keep working with contractors to obtain commercially viable EPC contracts” and that the development “requires more work to reach FID”. As a result, the developers “will review the structure of some packages and open the competition to an enlarged panel of Asian contractors
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