The Papua New Guinea Chamber of Resources and Energy (PNGCORE) today congratulated ExxonMobil on formally assuming operatorship of the Papua LNG Project and thanked TotalEnergies for its leadership in advancing the project to this important stage.
PNGCORE President Anthony Smaré issued the statement on behalf of the chamber, its members and stakeholders across Papua New Guinea’s resources sector.
“On behalf of PNGCORE, our members and all stakeholders in Papua New Guinea’s resources sector, I congratulate ExxonMobil on assuming operatorship of Papua LNG,” Mr Smaré said. “This is a major milestone for a project of national importance and an important step forward for the future growth of our country’s gas industry," Smaré said.
Smaré said ExxonMobil’s appointment inspired confidence, given the company’s proven track record in Papua New Guinea through its leadership of the PNG LNG Project.
PNG LNG commenced production in 2014, ahead of schedule. Originally designed for a capacity of 6.9 million tonnes per annum, the project has since expanded to more than 8 million tonnes annually. It supplies long-term customers in Asia and has become the largest investment in the nation’s history, as well as the country’s first LNG project.
“ExxonMobil has already demonstrated in Papua New Guinea that it can deliver and operate a complex, world-scale LNG project,” Smaré said. “The PNG LNG Project has become one of the country’s most important economic assets and a clear example of what can be achieved through strong project execution, long-term investment and effective collaboration.”
Smaré noted that PNG LNG had shipped more than 1,330 cargoes and delivered more than PGK40 billion to stakeholders in Papua New Guinea since production began. These benefits include equity distributions to Kumul Petroleum Holdings Limited and the Mineral Resources Development Company (MRDC), taxes paid to the national government, development levies and royalties.
He said the project’s performance had helped establish Papua New Guinea as a credible and reliable LNG exporter while creating employment, business opportunities, skills development and long-term revenue streams for the country.
“PNG LNG’s success gives the country and investors confidence that Papua LNG can also be progressed successfully,” Mr Smaré said. “It shows that Papua New Guinea can host major energy developments that are technically demanding, capital-intensive and nationally transformative.”
Smaré also acknowledged TotalEnergies for the substantial work it had undertaken to bring Papua LNG to its current stage of development.
“PNGCORE expresses its appreciation to TotalEnergies for its contribution, professionalism and commitment in progressing Papua LNG to this point,” Smaré said. “We also recognise the leadership of TotalEnergies Chairman and Chief Executive Officer Patrick Pouyanné and his personal commitment to our country and Papua LNG during an important phase in the project’s development. TotalEnergies has made an invaluable contribution in leading Papua LNG to its present stage.”
Smaré said PNGCORE also recognised the continued commitment of the wider joint venture and project stakeholders, including Santos, ENEOS Xplora, Kumul Petroleum Holdings Limited, MRDC, government institutions, landowners and communities.
He said the next phase should focus on maintaining momentum, ensuring policy stability and fostering practical cooperation to advance Papua LNG towards a final investment decision (FID) and construction.
“Papua LNG has the potential to deliver major long-term benefits for Papua New Guinea through investment, employment, local business participation, infrastructure and government revenue,” Mr Smaré said. “The sector will be best served by continued alignment among government, developers, landowners and industry so that this opportunity is converted into lasting national value.”
Smaré said ExxonMobil’s assumption of operatorship was also significant because it reinforced confidence in Papua New Guinea’s broader pipeline of gas development opportunities. Success in Papua LNG, he said, would help underpin the next generation of investment across the country’s resources sector.
“PNGCORE and the broader group of stakeholders in Papua New Guinea’s resources sector look forward to working with ExxonMobil, TotalEnergies, the project partners and the Government of Papua New Guinea to support the responsible and timely development of Papua LNG,” Smaré said. “Our shared objective should be to ensure that this project delivers lasting benefits for Papua New Guinea, investors and all stakeholders connected to the future of the resources sector.”
