PNG LNG expansion faces delay

摘要

PAPUA New Guinea's planned three-train liquefied natural gas expansion is targeting start-up from 2027 as the project has hit a two-year delay due to the impacts of Covid-19. Supermajors ExxonMobil and Total have already demobilised the majority of their LNG expansion technical and commercial staff from the country as the effects of the coronavirus pandemic and low oil prices took hold. Oil Search, one of the partners in the expansion effort, revealed in its latest financial results that, due to the impact of Covid-19 on the global economy, the market window for major new LNG supply had "moved back a few years".