Total SA and partners ExxonMobil and Oil Search have signed a gas agreement with the government of Papua New Guinea that defines the fiscal framework for the Papua LNG project in the country’s Eastern Highlands. The plan involves construction of three 2.7-mtpa LNG trains on the existing PNG-LNG plant site at Caution Bay just west of Port Moresby. Total has 31.1% interest, ExxonMobil has 28.3% interest, and Oil Search has 17.7%. Papua New Guinea has backed the project for 22.5%.
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