Papua LNG, a joint venture of LNG project operator Total Energies, has begun the first stage of developing pre-project documentation for creating gas production facilities for the LNG project in Papua New Guinea, the company said in a press release.
At the same time, following the general schedule of the project, design and survey work for liquefaction plants is underway. The company aims to launch integrated design and survey work in the 4th quarter of 2022.
The final investment decision on the Papua New Guinea project is scheduled for the end of next year, and the project’s launch is scheduled for the end of 2027. The Papua LNG joint venture plans to implement a unique project regarding its environmental sustainability, biodiversity, and low carbon emissions.
In particular, the project involves implementing a technology for capturing and storing natural carbon dioxide in the field, which will be re-injected into special tanks. Total Energies is the third largest LNG company in the world, controlling about 10% of the global market share.
By 2025, the company plans to reach the production of almost 50 million tons per year, thanks to existing shares in liquefaction plants in all key regions of the world.
The company takes an integrated approach and controls the entire LNG value chain, including production, transportation, trading, and bunkering of LNG.