ExxonMobil Pushing Forward on Papua New Guinea LNG Initiative

ExxonMobil has reached an agreement on a fiscal framework with the government of Papua New Guinea to develop the P’nyang liquefied natural gas (LNG) export project.

The project would deliver LNG by constructing new upstream facilities in the Western Province linked to existing infrastructure.

The agreement also supports project scoping and evaluation, but still hinges on a final investment decision. The P’nyang field is estimated to have 4.36 Tcf of natural gas.

“The P’nyang project gas agreement marks a significant milestone and underscores the intent of all stakeholders to set a clear framework toward the P’nyang project’s future development,” said Liam Mallon, president, ExxonMobil Upstream Oil and Gas.

The P’nyang development in Western Province is...