STOSF - TotalEnergies partners begin FEED work on Papua LNG project

2023-03-07 11:58:47 ET

TotalEnergies ( NYSE: TTE ) and partners Exxon Mobil ( XOM ) and Santos ( OTCPK:STOSF ) said Tuesday they launched the fully integrated front-end engineering and design for the Papua LNG project.

Following pre-FEED studies, the Papua LNG partners have selected at concept using four electric LNG trains with a combined capacity of 4M metric tons/year to be developed within the existing PNG LNG project site.

Papua LNG also has secured access to as much as 2M metric tons of existing liquefaction capacity from PNG LNG.

TotalEnergies ( TTE ) holds a 40.1% interest in Papua LNG, and joint venture partners Exxon ( XOM ) and Santos ( OTCPK:STOSF ) own respective 37.1% and 22.8 stakes.

The freefall in natural gas prices will hurt TotalEnergies' ( TTE ) results in 2023, Fun Trading writes in an analysis published recently on Seeking Alpha .

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