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PNG

Oil & Gas

Small-scale floating LNG power solutions set for Papua New Guinea

Twenty20 Energy will roll out its proprietary power island floating storage regasification and power solution at 12 locations across Papua New Guinea (PNG) on behalf of PAWA PNG. The solution will serve as a model for future nearshore power generation plants in coastal regions worldwide, reckons the Singapore-based firm.

Asia

ExxonMobil’s P’nyang deal bullish for PNG’s LNG export growth

A deal struck between ExxonMobil (NYSE:XOM) and the government of Papua New Guinea (PNG) earlier this year will ensure that the Pacific Island nation will remain a major force in the global market for liquefied natural gas (LNG) for years to come, according to a report by Fitch Solutions. Significantly, the government secured “highly favourable terms.”

Asia

ExxonMobil seals crucial deal for LNG backfill project in PNG

ExxonMobil (NYSE:XOM), which operates the PNG LNG export complex in Papua New Guinea (PNG), has sealed a gas agreement with the PNG government that provides a clear framework for development of the P’nyang field to backfill existing liquefied natural gas (LNG) infrastructure. However, major development activities are unlikely to start before 2027.

Asia

PNG scrutinises Santos-Oil Search merger

The government of Papua New Guinea (PNG) has raised concerns that Santos’ proposed $15.5 billion merger with Oil Search could harm national interests in the liquefied natural gas (LNG) exporting country.

Asia

Carbon capture and the future of LNG in Asia

Carbon capture and storage (CCS) will play an important role in decarbonising liquefied natural gas (LNG), but the pace of progress remains too slow, writes Gavin Thompson, Asia Pacific vice chair, Wood Mackenzie.

Asia

Japan’s plan to cut LNG demand is unrealistic says Rystad

Japan’s recent revision to its strategic energy plan (SEP) lowers the targeted share of liquefied natural gas (LNG) in the country’s power generation mix in 2030 to 20% from 27% previously, as a measure to cut emissions. However, analysis from Rystad Energy concludes that Japan’s targets are too ambitious and that the changes the new plan will bring will mostly be in the structure of commodities trading.

Asia

PNG government reneges on offshore gas agreement again

The government of Papua New Guinea (PNG) has again changed the agreed fiscal terms for Twinza Oil’s proposed Pasca A gas project, which would be the country’s first offshore development. Significantly, the move underscores the increasing political risk for resource investors, such as ExxonMobil, in the Pacific Island nation.

Asia

Oil Search rejects $16bn merger approach from Santos

Australia’s Santos said today that it approached compatriot Oil Search about a potential merger last month. However, the offer to create an energy company with a market value of $16.1 billion was rejected by Oil Search, which has major stakes in Papua New Guinea’s (PNG’s) emerging liquefied natural gas (LNG) sector.

Asia

Oil Search seeks new boss after shock resignation

Oil Search managing director Keiran Wulff has suddenly resigned from the Australian-listed company following complaints about his behaviour and ill health. This leaves the Papua New Guinea-focused oil and gas producer in an uncertain position as it seeks new leadership.