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MINUTE EXPERT BY LISA SMYTH
PAPUA LNG PROJECT In the time it takes you to read this page, you’ll become an expert on the Papua LNG project. WHAT IS THE PAPUA LNG PROJECT? On April 9, 2019, the PNG Government and French company Total signed the $US10 billion Papua LNG Project Gas Agreement, which,
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according to the government, will include the involvement of local businesses, have socioeconomic benefits for communities, and will add three percentage points to the country’s GDP.
WAIT … DIDN’T THIS HAPPEN IN 2014? That was the PNG LNG Project operated by ExxonMobil, an American company. This is the Papua LNG Project operated by Total, a French company. Though, ExxonMobil and its partner Oil Search are also partners in the new Total project. THIS IS HAPPENING IN PORT MORESBY THEN? The project will supply gas from the Elk and Antelope onshore fields in Gulf Province to two new processing units that will be built at the current ExxonMobil plant just outside of Port Moresby. By expanding the current processing site the project will avoid unnecessary duplication of equipment and inflated costs. OK, BUT IS THIS A GOOD DEAL FOR PNG? In April, then Prime Minister, Peter O’Neill, told local media it was a “much better deal” as it includes an obligation to provide gas to the