Gulf LNG set to be the biggest in PNG
The US$20 billion (K50 billion) project will take at least five years to build with construction due to start within 14 months and the first LNG export due in late 2020 or early 2021.
The Elk-Antelope LNG project will be bigger by cost and production output, surpassing the current PNG LNG project cost value and gas output with an estimated 9.9 trillion cubic feet (tcf) of gas.
It will be operated by the State preferred operator, France’s energy giant Total SA partnering with InterOil Corporation and the National Petroleum Company of PNG (NPC) as the State nominee.
The project partners, in a press conference with the Minister for Petroleum and Energy Nixon Duban last Thursday at project site, disclosed that the project is eyeing two LNG trains.
InterOil chief executive Dr Michael Hession and Total managing director Philippe Blanchard told reporters that the they are focused and committed to delivering PNG’s second LNG project which would be bigger than the current PNG LNG Project which has a blown out cost around K50 billion.
"This is a major US$15 billion to US$20 billion project. We are looking at going into FEED (front end engineering design) next year and looking at possibly early works to commence as soon as possible.
"We want to deliver this project cost effectively," Dr Hession said.
Mr Blanchard added, "we are happy Total has joined the project. We will get this project move forward."
"Total had invested substantial resources and effort and we are committed and working towards the FEED and final investment decision (FID)," the Total executive said.
"We are very much focused on delivering a two-train LNG project in PNG." PNG Today/Post Courier
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