Papua LNG project: Total Energies, ExxonMobil, and Santos the main benefactors

 Papua New Guinea is a country located in the southwestern Pacific Ocean, north of Australia. The country has abundant natural resources, including natural gas, which has been a major source of revenue for the country in recent years. 

The Papua LNG project is one of the largest gas projects in the country, and it is operated by a consortium of three major oil and gas companies: Total Energies, ExxonMobil, and Santos.

Production started in 2014.

Stakes: Total Energies, ExxonMobil, and Santos

According to the data provided, the Papua LNG project is valued at USD10b, and the three companies have varying stakes in the project. 

Total Energies has a 40.1% stake, ExxonMobil has a 37.1% stake, and Santos has a 22.8% stake. 

However, the state (PNG Government) has a back-in right of 22.5%, which means that if it exercises this right, the equity of the three companies will be diluted. 

In this scenario, Total Energies will have a 31.1% stake, ExxonMobil will have a 28.8% stake, and Santos will have a 17.7% stake.

Image: Supplied

Papua LNG Project Awareness

Despite the economic benefits of the Papua LNG project, many Papua New Guineans are not fully aware of the details of the project. For instance, since the project was announced in 2014, it has earned the country over USD10b in revenue. 

However, this figure pales in comparison to the USD30b earned by the country's other LNG gas project, PNG LNG Gas, which started production in 2014. This highlights the need for more public education on the Papua LNG project and its potential benefits.

Papua LNG Project Benefit Negotiation

The negotiation process for the Papua LNG project was not without its challenges. In 2019, the country's then-minister for mining, Johnson Tuke, announced that the government had reached an agreement with the project's stakeholders on the terms for the development of the project. 

However, the agreement was met with protests from landowners and civil society groups, who accused the government of not consulting them adequately. 

The country's current prime minister, James Marape, has promised to review the country's resource laws to ensure that the country gets a fair share of the revenue from its natural resources under his motto Take Back PNG.

Challenges of the Papua LNG project

In terms of the benefits and challenges of the Papua LNG project, there are several factors to consider. 

On the one hand, the project has the potential to generate significant revenue for the country, which can be used to fund social and economic development projects. Additionally, the project can create jobs and boost local businesses. 

On the other hand, the project may have negative environmental impacts, such as deforestation and pollution. Additionally, there may be concerns about the equitable distribution of revenue and benefits among all stakeholders, including landowners and local communities.

SWOT analysis

A SWOT analysis of the Papua LNG and PNG LNG projects reveals the following:

Strengths:

• Both projects have the potential to generate significant revenue for the country.
• The projects can create jobs and boost local businesses.

Weaknesses:

• The projects may have negative environmental impacts.
• There may be concerns about the equitable distribution of revenue and benefits among all stakeholders.

Opportunities:

• The country can use revenue generated from the projects to fund social and economic development projects.
• The government can review its resource laws to ensure that the country gets a fair share of the revenue from its natural resources.

Threats:

• Protests from landowners and civil society groups can delay or halt the development of the projects.
• Fluctuations in the global oil and gas markets can impact the viability of the projects.

Another potential threat to the projects is political instability in the country. Papua New Guinea has a history of political instability and corruption, which can affect the smooth running of the projects.

Papua LNG and PNG LNG projects' potential

Despite these challenges, both the Papua LNG and PNG LNG projects have the potential to benefit the country significantly. 

It is important, however, that the government and the project stakeholders take into account the concerns of all stakeholders and ensure that the projects are developed in a socially and environmentally responsible manner. 

This includes consulting with local communities and landowners, addressing any environmental concerns, and ensuring that revenue and benefits are distributed equitably among all stakeholders.

Conclusion

The Papua LNG project is a significant development in Papua New Guinea's natural gas sector. 

However, it is important that the government and the project stakeholders address concerns around environmental impacts, revenue distribution, and community consultation to ensure that the project benefits all stakeholders in the country. 

Additionally, the government should continue to review its resource laws to ensure that the country gets a fair share of the revenue from its natural resources.

Earthquake in PNG: What You Need to Know and How to Stay Informed

Papua New Guinea (PNG), a country located in the Pacific Ring of Fire, experiences frequent earthquakes due to its location on the boundary of two tectonic plates. 

Over the years, PNG has suffered several devastating earthquakes, causing destruction and loss of life. 

Here, we'll discuss two past earthquakes that shook PNG, what causes earthquakes in the country, and what you can do to stay safe.

Past Earthquakes in PNG and Disasters

The 1998 Aitape Earthquake

On July 17, 1998, a magnitude 7.0 earthquake hit the town of Aitape in PNG's Sandaun Province. 

It triggered a massive tsunami that killed over 2,000 people and left thousands more injured or homeless.

The 2018 Highlands Earthquake

On February 26, 2018, a magnitude 7.5 earthquake hit PNG's Highlands region, causing landslides, destroying homes, and leaving more than 100 people dead. 

The quake also damaged infrastructure, including roads and communication lines, making rescue efforts difficult.

Updates on Earthquakes in PNG just now

To stay updated on earthquakes in PNG, you can visit the website of the PNG Geological Survey and Mineral Resources Authority (www.gsr.gov.pg). You can also follow the authority's social media pages for real-time updates. 

In case of an earthquake in PNG just now, turn on the radio or TV and listen for emergency alerts.

Here are five ways to get the latest updates on earthquakes in PNG and the Pacific:

• Follow the social media pages of the PNG Geological Survey and Mineral Resources Authority for real-time updates.
• Download a reputable earthquake-tracking app such as MyShake, QuakeFeed, or Earthquake Alert.
• Sign up for email or text alerts from the Pacific Tsunami Warning Center, which provides information on earthquakes and tsunami warnings.
• Check news websites such as Reuters, CNN, and BBC for breaking news and updates on earthquakes in PNG and the Pacific.
• Tune in to local radio or TV stations for emergency alerts and instructions during an earthquake or tsunami warning.

For detailed information on how to get the latest updates in Earthquakes in PNG today, check out this page.

Causes of Earthquakes in PNG

PNG is located on the boundary of the Pacific and Australian tectonic plates, which are constantly moving against each other. 

The movement of these plates generates stress that builds up over time and is eventually released as an earthquake. 

The frequency and intensity of earthquakes in PNG are due to its position in the Ring of Fire, an area of intense seismic and volcanic activity.

Effects of Earthquakes

Earthquakes can cause significant damage to infrastructure, including buildings, bridges, and roads, and disrupt essential services such as water and electricity. 

They can also trigger landslides, tsunamis, and other secondary hazards that can cause further damage and loss of life.

Staying Safe During Earthquakes

During an earthquake, drop to the ground, take cover under a sturdy piece of furniture, and hold on until the shaking stops. 

If you're outdoors, move to an open area away from buildings and power lines. 

If you're in a car, pull over to a safe location and stay inside until the shaking stops. 

Remember to listen for emergency alerts and follow the advice of local authorities.

Facts About Earthquakes in PNG

PNG experiences an average of 200 earthquakes per year, most of which are too small to be felt.

The largest earthquake ever recorded in PNG was a magnitude 8.0 quake near Rabaul in 1937.

PNG's frequent earthquakes make it a hub for earthquake research, with scientists worldwide studying the country's seismic activity.

What You Need to Know and How to Stay Informed

In conclusion, earthquakes are frequent in PNG, and it's essential to know how to stay safe during these natural disasters. 

By following the advice of local authorities and staying informed, you can minimize the impact of earthquakes on your life and property.