Next phase costings for PNG LNG

OIL Search has estimated the initial cost of the next phase of the PNG LNG project to be US$11-12 billion

  • James Bowen
  • 02 May 2018
  • 10:59
  • News
Next phase costings for PNG LNG

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Speaking at the Macquarie Australia Conference in Sydney this week, company CEO Peter Botten said the figure would cover most of the construction of three new LNG trains and initial development of the Elk and Antelope fields, with development of P'nyang delayed for a number of years. 
 
Oil Search and its PNG partners are expecting to make a decision on starting front-end engineering and design work on the project in the second half of this year.
 
A report on the project out this week found that "currently, on almost every measure of economic welfare in 2016, PNG would have been better off without the PNG LNG project".
 
PNG prime minister Peter O'Neill dismissed the report as "utter nonsense" but later admitted he had not read it.

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