PAPUA LNG PROJECT ATTRACTS GLOBAL INTEREST

BY RAYLEEN WANJIMAN

GLOBAL Eenergy uncertainty driven by the Middle East conflict is increasing interest in the Papua LNG Project, as buyers and financiers seek stable long-term supply sources.

According to the BSP March Outlook released recently, the project is set to deliver significant economic benefits, including increased government revenue, job creation, and stronger foreign reserves.

TotalEnergies EP PNG Managing Director Arnaud Berthet says the Papua LNG Project is valued at approximately K53 billion kina (around US$14 billion) and remains on track for a Final Investment Decision (FID) in the second quarter of 2026.

He added that the project has attracted strong interest from financiers with over 30 commercial banks and seven export credit agencies indicating support, reflecting growing international confidence in the development.

The Papua LNG Project is expected to produce 5.6 million tonnes per annum once it becomes operational that help meet growing energy demand in Asia while diversifying supply away from conflict-affected regions.

The project is now being closely watched as one of Papua New Guinea’s most significant drivers of future economic growth.