TotalEnergies To Sell 9.1% Interest In Papua LNG To ExxonMobil - XOM News | RalliesTotalEnergies To Sell 9.1% Interest In Papua LNG To ExxonMobil
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XOM• TotalEnergies advances Papua LNG decision process
- TotalEnergies says it is taking decisive steps towards the final investment decision on Papua LNG.
- It is transferring operatorship to ExxonMobil, operator of PNG LNG.
- The company will sell a 9.1% interest, post back-in of Kumul Petroleum, in the project to its Papua LNG partners.
- TotalEnergies will retain a 20% interest in the project, while maintaining its LNG offtake share.
- The companies are also establishing a joint venture for the marketing of LNG.
- The joint venture will market 2.4 mt/year of LNG out of Papua LNG's total production of 5.6 mt/year.
