TotalEnergies advances Papua LNG milestones as FID nears with ExxonMobil
Milestones reducing capex, clearer execution via ExxonMobil, and meaningful stake changes can lift valuation as FID approaches and project economics improve.
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Milestones reducing capex, clearer execution via ExxonMobil, and meaningful stake changes can lift valuation as FID approaches and project economics improve.
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TotalEnergies reports major Papua LNG milestones advancing toward a Final Investment Decision (FID), including completion of the EPC tendering process and a transfer of operatorship to ExxonMobil. The project’s capex is now about $14 billion after roughly $4 billion in savings since 2024, with a 5.6 Mtpa LNG plan and a 2.4 Mtpa marketing JV to support financing. Post-farm-down, TotalEnergies will hold 20% with an accompanying LNG offtake and ongoing cash-flow potential tied to FID timing.
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