HOME ABOUT US ADVERTISE SUBSCRIBE HELP CONTACT eMag  
Wednesday
3 September 2014
Make PNG my HomePage 
 
Another LNG project in PNG

A recent presentation by Energy World Corporation revealed that Talisman Energy and its partners in Papua New Guinea’s Western Province might seek to develop at least a 2 million tonnes per annum modular LNG terminal on Parama Island southeast of the Fly River delta.

Diagram and map courtesy of EWC.
Parama LNG map courtesy of EWC

Talisman has long pursued a strategy of accumulating 2-4 trillion cubic feet of gas in the province for monetisation via LNG as part of a consortium.

It doesn’t get the same kind of media attention but this Talisman-led group is pursuing what is the third LNG project for PNG after ExxonMobil-led PNG LNG and InterOil-led Gulf LNG.

As part of this agenda Talisman farmed out various stakes of nine licences in this region to Mitsubishi, a significant downstream player, in February for $US280 million.

Unlike Talisman’s established condensate stripping project plans in the province with Horizon Oil, the path for commercialising the gas is yet to take a concrete form as more resources need to be defined.

Horizon has previously flagged that a floating LNG development could even be considered but a presentation by EWC executive director Brian Allen at the CLSA Investors Forum in Hong Kong this week indicates that modular LNG is a favoured option.

On one of the EWC-announced presentation slides which are all labelled “strictly confidential”, the Parama Island LNG project is targeting initial capacity of 2Mtpa with a flagged expansion to 5Mtpa.

EWC said this modular LNG terminal would be developed in conjunction with a deep water port and power station.

Talisman wasn’t mentioned but the map on this slide marks out a pipeline route which starts from the gas fields in licences held by Talisman, Horizon and other Western Province players.

Last month a Talisman spokesperson told PNGIndustryNews.net that Mitsubishi had become a full joint venture partner in eight of its licences so far.

“We are working together on a three year forward exploration program and considering monetization options including tie-in to a third party facility or construction of an LNG export facility in the PNG Foreland,” he said.

Share this story:

Click here to read the rest of today's news stories.

 



Company Search




Story Search

Advanced Search
LATEST NEWS

Sandfire keeps turning up the heat


Steamships flags higher sales, warns of pressures


PNG to support, work with island states


New-found woes for Post PNG


Food, water crisis at volcano evacuation camp


Discoveries galore in Malaysia


Gold increase suggests sector weaknesses


News Wrap


PanAust rebuffs Frieda frustration speculation


PNG’s Rabaul volcano erupts

RELATED LINKS

[COMPANY]
-ENERGY WORLD CORPORATION LIMITED [EWC]
[SECTION]
-Oil and Gas
-General News
-Market Watch
[REGION]
-PNG
[RELATED STORY]
-The untapped Western frontier
-Mitsubishi dives into western PNG
-EWC goes for more power
-Second western PNG condensate project likely
-Upstream developments
-Talisman well results unknown
-Eaglewood’s Stanley field connection
-Talisman quits Peru
-‘Midscale LNG’ project a possibility in PNG
-Horizon eyes PNG sale
[OTHER]
-Printable Version
-Send to a Friend



UPCOMING
EVENTS
Resource Estimation JBurg
Resource Estimation Perth
Resource Estimation Vancouver
COAL: EXPLORATION, EVALUATION & INTERNATIONAL BEST PRACTICE
International Symposium on Mixing in Industrial Processes VIII
Seventh International Conference on Deep and High Stress Mining
  View all events