Kumul Petroleum Holding (KPHL) managing director Wapu Sonk has addressed the 18th annual LNG (liquefied natural gas) supplies for Asian Markets (LNGA2024) conference in Singapore.
Titled ‘PNG’s next phase of LNG development’, Sonk outlined the current petroleum development situation in PNG.
According to PwC, the combined contribution of crude oil, LNG, and condensate will potentially comprise around 60 per cent of the Pacific nation’s export revenues in the near term.
Sonk went on to discuss projects in the pipeline such as Papua and P’nyang LNG projects and the future role of KPHL in the development of the sector.
The P’nyang gas field is located in the western province of PNG. It was first discovered in the 1990s and is currently operated by ExxonMobil.
Papua LNG, operated by TotalEnergies, is still in the early stages of development but has a projected gas export volume of 5.6 million tonnes per year.
Sonk also highlighted KPHL’s operatorship of licences, its marketing of uncontracted PNG LNG project cargoes and future possible LNG development scenarios in PNG as an under-explored and highly prospective petroleum region.
Kumul is currently in the process of buying into the prospective PNG LNG project. The company stands to acquire Santos’ five per cent in a deal that has been playing out since 2022.
The LNGA 2024 was held from March 5–6. The conference has so far attracted over 3400 participants from 60 countries across the globe from varied sectors of the gas industry.
The conference aims to provide continuing insights into the challenges and opportunities for the gas industry over the next decade, with an emphasis on Asian markets, which accounts for over 65 per cent of global imports.
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