ExxonMobil propels PNG LNG future

In May 2024, ExxonMobil marked a decade of LNG production in Papua New Guinea (PNG) through its PNG LNG Project, which has launched a new industry and set the stage for future developments.

Chairperson and Managing Director of ExxonMobil PNG, Tera Shandro, highlighted the company's long-term commitment to growth and partnership with PNG's government, local businesses, and communities.

The PNG LNG Project, the largest business investment in the country, has significantly contributed to the nation's economy. Since 2014, it has generated 24 billion kina in revenue for the state and landowners through taxes and royalties and has spent over 15 billion kina with local businesses.

The next major development is the 5-billion-kina Angore Pipeline Tie-In Project, set to leverage existing infrastructure by connecting to the Hides Gas Conditioning Plant. This project, nearing completion, will bring an additional 1 trillion cubic feet (TCF) of natural gas online later this year.

Further south, ExxonMobil and Santos are advancing the Agogo Production Facility Tie-In Project, aiming to produce another 1 TCF of natural gas by 2028. This project will include new production facilities and a 20km pipeline connecting to the PNG LNG export pipeline.

ExxonMobil is also a key player in the TotalEnergies-led Papua LNG Project in Gulf Province, working to secure necessary regulatory permits for downstream facilities. Another milestone was achieved with the signing of the Fiscal Stability Agreement for the P’nyang LNG Project, potentially extending LNG development activity in PNG by up to eight years.

Looking ahead, ExxonMobil is exploring the Wildebeest prospect in the Eastern Fold Belt of Gulf Province, which could become the largest discovery in PNG's history, extending the LNG construction window to 13 years.

“Our commitment to Papua New Guinea is built on collaboration and mutual benefit,” Shandro said, emphasizing the creation of jobs and economic growth. “The country’s LNG future looks bright,” she concluded.

Author: 
Loop Author