REG-TotalEnergies SE Papua New Guinea: TotalEnergies Announces New Milestone towards Papua LNG Development

TotalEnergies SEAnnouncement

20/07/2022 08:00

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Papua New Guinea: TotalEnergies Announces New Milestone towards Papua LNG
Development

 

TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE), as operator, has announced the
decision of the Papua LNG joint venture to launch the first phase of front-end
engineering and design (FEED) studies for the Papua LNG project's upstream
production facilities.

In parallel, studies for the downstream liquefaction facilities are
progressing in line with the overall project schedule, and the objective is to
launch the integrated FEED in the fourth quarter of 2022. The project is
targeting a final investment decision (FID) around the end of 2023, and a
start-up at the end of 2027.

“The commencement of upstream FEED studies is another significant step
towards developing the Papua LNG project, which will increase Papua New
Guinea’s LNG export capacity and thus contribute to its further
development," said Julien Pouget, Senior Vice President Asia Pacific for
Exploration & Production and Renewables at TotalEnergies. "The Papua LNG
project is well positioned to contribute to growth in LNG supply worldwide,
especially for customers in Asia seeking to decarbonize from coal to gas, in
line with our strategy to lower global greenhouse gas emissions.”

The Papua LNG joint venture is committed to developing a landmark project in
terms of sustainability, biodiversity, and low carbon emissions. Specifically,
the project will incorporate a carbon capture and storage scheme for the
fields' native CO(2), which will be reinjected into the reservoirs.

TotalEnergies, The World’s Third-Largest Low-Carbon LNG Company

TotalEnergies is the world’s third-largest low-carbon LNG company, with a
global market share of around 10% and a global portfolio of nearly 50 Mt/y by
2025 thanks to its interests in liquefaction plants in all geographies. The
Company benefits from an integrated position across the LNG value chain,
including production, transportation, trading, and LNG bunkering.
TotalEnergies ambition is to increase the share of natural gas in its sales
mix to 50% by 2030, reduce the gas value chain’s carbon emissions, eliminate
methane emissions, and work with local partners to promote the transition from
coal to natural gas.

About TotalEnergies

TotalEnergies is a global multi-energy company that produces and markets
energies: oil and biofuels, natural gas and green gases, renewables and
electricity. Our more than 100,000 employees are committed to energy that is
ever more affordable, cleaner, more reliable and accessible to as many people
as possible. Active in more than 130 countries, TotalEnergies puts sustainable
development in all its dimensions at the heart of its projects and operations
to contribute to the well-being of people.

TotalEnergies

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Cautionary Note

The terms “TotalEnergies”, “TotalEnergies company” or “Company” in
this document are used to designate TotalEnergies SE and the consolidated
entities that are directly or indirectly controlled by TotalEnergies SE.
Likewise, the words “we”, “us” and “our” may also be used to refer
to these entities or to their employees. The entities in which TotalEnergies
SE directly or indirectly owns a shareholding are separate legal entities.
This document may contain forward-looking information and statements that are
based on a number of economic data and assumptions made in a given economic,
competitive and regulatory environment. They may prove to be inaccurate in the
future and are subject to a number of risk factors. Neither TotalEnergies SE
nor any of its subsidiaries assumes any obligation to update publicly any
forward-looking information or statement, objectives or trends contained in
this document whether as a result of new information, future events or
otherwise. Information concerning risk factors, that may affect
TotalEnergies’ financial results or activities is provided in the most
recent Universal Registration Document, the French-language version of which
is filed by TotalEnergies SE with the French securities regulator Autorité
des Marchés Financiers (AMF), and in the Form 20-F filed with the United
States Securities and Exchange Commission (SEC).



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