Total Energies nears Papua Gas project decision

Total Energies is approaching a final investment decision for the Papua Gas Liquefaction Project in Papua New Guinea, after completing the engineering and procurement contract negotiations and reducing capital expenditure estimates to around $14 billion, thanks to cost savings and design modifications. The project aims to develop resources from the Elk and Antelope fields, targeting an annual production of 5.6 million tonnes of liquefied natural gas, with operational management by ExxonMobil. This comes at a time when major companies are securing Asian gas supplies, as the project is considered a strategic initiative to boost energy exports and strengthen the regional gas market, especially with a final decision expected in 2026.

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