Santos’ $15b Papua LNG project hits further delay
Santos’ planned $15 billion LNG project in Papua New Guinea has struck a further delay and is now targeting a final investment decision next year after initial bids from contractors vying to build it showed it would be uneconomic.
The Papua LNG venture, managed by TotalEnergies, “will need to keep working with contractors to obtain commercially viable [construction] contracts and requires more work to reach FID [final investment decision],” the French energy major and the PNG government said in a joint statement issued in Paris and Port Moresby late on Monday.
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