Papua New Guinea’s decade of growth begins Meanwhile, the operator of PNG’s first gas project, ExxonMobil, is working to complete the Angore Pipeline Tie-In Project in Hela Province. Natural gas from the US$1.3 billion project is expected at its Caution Bay plant in 2024.
“As Papua New Guinea’s only significant gas development currently under construction, we expect Angore to bring on additional gas volumes later this year to supplement the existing PNG LNG gas production,” Tera Shandro, Chairperson and Managing Director at ExxonMobil Papua New Guinea, tells Business Advantage PNG.
As delegated downstream operator for the TotalEnergies-led Papua LNG project, ExxonMobil’s LNG Plant at Caution Bay would – pending a successful Final Investment Decision (FID) – see its production capacity increase to accommodate increased volumes associated with Papua LNG.
With rising demand for LNG as a replacement fuel for coal in Southeast Asia, construction of ExxonMobil’s next project, P’nyang, could quickly follow the four-year construction of Papua LNG. A more recent and very promising discovery from ExxonMobil, Wildebeest, could further extend PNG’s decade of construction out to 13 years.
Economic update: Papua New Guinea's decade of growth begins - Business Advantage PNG