Papua New Guinea Prime Minister James Marape on a visit to Australia
Rising costs delay Papua LNG FID
But there is still plenty of appetite for the country’s LNG in the Asia-Pacific region
TotalEnergies has pushed back FID for its 6mt/yr Papua LNG project, citing increased costs. But the French major stressed it remains committed to the development. “FID is now expected in 2025,” a joint statement from TotalEnergies and the government of Papua New Guinea stated. TotalEnergies and the consortium partners made the decision after receiving the first EPC offers for the project, saying that they “will need to keep working with contractors to obtain commercially viable EPC contracts” and that the development “requires more work to reach FID”. As a result, the developers “will review the structure of some packages and open the competition to an enlarged panel of Asian contractors
Also in this section
1 April 2026
Golden Pass’s startup offers QatarEnergy a timely boost but may also force a difficult choice between honouring disrupted contracts and capitalising on soaring spot LNG prices
1 April 2026
It is not a case of if or when, but the length and magnitude of economic damage from elevated oil prices
1 April 2026
The US-Iran conflict demonstrates the need for diversification in several senses of the word. It also exposes the limits of Washington applying pressure on major oil and gas producers it considers geopolitical adversaries
31 March 2026
Disappointing results in its bidding round are a reality check for Libya, and global exploration generally
