PNG Government Prefers Exxon, Total Pursue 2nd LNG Project
- Kumul Petroleum says government favors two separate projects
- Sufficient gas exists for both PNG LNG and Papua LNG plants
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Papua New Guinea is backing a new greenfield liquefied natural gas facility led by France’s Total SA in addition to an expansion of the existing $19 billion Exxon Mobil Corp. PNG LNG project.
The Pacific nation expects its gas reserves to feed both PNG LNG as well as the separate Papua LNG venture, according to Wapu Sonk, the managing director of Kumul Petroleum, the state oil company. Plans to develop both projects have been in doubt since Exxon bought a stake in natural gas fields that were originally slated for the second project and said it intends to funnel that gas through PNG LNG.