Photo credit: TotalEnergies
By 2032, it is anticipated that the Papua Liquefied Natural Gas project (Papua LNG) would produce an additional 2–3 million tonnes of liquefied natural gas annually.
Given that Total Energies announced FEED (front-end engineering and design) for the Papua LNG Project in July of this year, Minister for Petroleum and Energy Kerenga Kua believes that PNG will export LNG in the ensuing decades.
The project, according to Mr. Kua, will virtually double PNG's LNG exports from the current 8.5 million tonnes per year to 14–15 million tonnes per year, he said during the 2022 National Petroleum and Energy Summit in Port Moresby.
“Papua LNG is likely to reach its final investment decision (FID) in late 2023 and with a four-year construction phase, we expect the first phase of LNG around the end of 2027 and late 2028,” Minister Kua said.
“This will be followed by FID and construction on P’nyang gas project with further plans to deliver 2-3 million tonnes per annum of LNG by 2032.”
According to Mr. Kua, as nations improve their renewable energy resources, LNG serves as a bridge fuel worldwide, and PNG is on the route to achieving that goal.
In the future, when they could be customers for PNG's export of green energy, he said that PNG's role as an LNG exporter will help.
According to Peter Larden, managing director of ExxonMobil PNG, PNG is in a good position to increase its LNG capacity as a result of the PNG LNG project's strong foundation.
According to Mr. Larden, the country has the chance to watch as new innovations take place, which might boost the economy of the country for many years to come.
“PNG exports somewhere between 8 and 9 million tonnes of LNG per year and even if the Papua Project comes online, it will still represent about 2 per cent of global demand or global supply through the 2030 period,” Mr Larden said.
The good news, he added, is that PNG has a variety of advantages because it can export LNG to fulfil demand across the world, particularly in the Asia Pacific area.
Jean-Marc Noiray, managing director of TotalEnergies PNG Ltd, stated that once the Papua LNG project is approved, Total would concentrate on the initial activities.
He said that Papua LNG is now developing its national content principles and practises to further drive these results into and through the massive project activity.
“The national content plan will provide the guiding framework and also the collection of reporting from across the project for our reporting to government,” Mr. Noiray said.
Reference: Wohi, Lorraine. Post-Courier (21 September 2022). “Papua LNG To Delicer By 2032”.