Exxonmobil papua new guinea lng

ExxonMobil is a major player in the liquefied natural gas (LNG) industry in Papua New Guinea (PNG). Here's an overview of their involvement:

PNG LNG Project: ExxonMobil, along with its partners, operates the PNG LNG Project, which is one of the largest LNG projects in the Asia-Pacific region. The project involves the extraction of natural gas from the Hides, Angore, and Kutubu fields in the Southern Highlands Province of PNG.

Project Details:

• The PNG LNG Project is a joint venture between ExxonMobil (which owns 38.5%), Oil Search Limited (which owns 29.4%), and the State of Papua New Guinea (which owns 32.1%).
• The project involves the extraction of natural gas from the Hides, Angore, and Kutubu fields, which are located in the Southern Highlands Province of PNG.
• The gas is processed at a liquefaction plant in Port Moresby, the capital city of PNG, and then transported to international markets via tankers.
• The project has a production capacity of 6.9 million tonnes of LNG per annum (MTPA) and 0.7 billion cubic feet of condensate per day.

Benefits to PNG:

• The PNG LNG Project has generated significant revenue for the PNG government, with estimated earnings of over K10 billion (approximately USD 2.5 billion) since the project's inception in 2014.
• The project has also created thousands of jobs and stimulated economic growth in PNG, particularly in the Southern Highlands Province.
• The project has also contributed to the development of PNG's infrastructure, including the construction of roads, bridges, and other facilities.

Challenges and Controversies:

• The PNG LNG Project has faced several challenges, including delays, cost overruns, and environmental concerns.
• There have been concerns about the project's impact on local communities, including issues related to land ownership, compensation, and displacement.
• The project has also been criticized for its environmental impact, including the release of greenhouse gases and the potential for oil spills.

Future Plans:

• ExxonMobil and its partners are planning to expand the PNG LNG Project, with a proposed increase in production capacity to 12 MTPA.
• The company is also exploring other opportunities in PNG, including the development of new gas fields and the construction of a new LNG plant.

Overall, the PNG LNG Project is a significant contributor to PNG's economy and has played a crucial role in the country's development. However, the project has also faced challenges and controversies, and its future plans and operations will need to be carefully managed to ensure the project's long-term sustainability and social and environmental responsibility.