Total's PNG Gas Plan Faces Fresh Test as Deal Changes Proposed
- Findings to be sent to council as soon as Monday: minister
- Total CEO: It’s in PNG’s interest to respect recent agreement
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Papua New Guinea’s petroleum minister said he’s completed his review of a recent natural gas agreement with Total SA and will recommend changes, creating a potential hurdle for the delayed $13 billion effort to double the nation’s exports of the fuel.
The potential changes cover both regulatory and commercial terms of the so-called Papua LNG agreement and must be approved by the National Executive Council before submitting them to venture partners, which include Exxon Mobil Corp. and Oil Search Ltd., Kerenga Kua said in an interview Thursday.