Papua New Guinea has sent a team to Singapore to renegotiate its Papua LNG agree...
MELBOURNE - Papua New Guinea has sent a team to Singapore to renegotiate its Papua LNG agreement with French oil major Total SA , the nation’s petroleum minister said in a statement on Thursday, warning the talks could end “disastrously” for the gas project.
The state negotiating team, which includes Kua, left on Thursday for Singapore and will return early next week, the minister said in a statement released by his office.Papua LNG, a joint venture between Total, Exxon Mobil Corp and Australia’s Oil Search Ltd , is part of a $13 billion plan set to double the country’s exports of liquefied natural gas .
“This is a risk we take as we try to move in the direction of taking PNG back and making it wealthy.”
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