France's Total has welcomed the Papua New Guinea government's decision to honour the development agreement that underpins the multi-billion dollar Papua liquefied natural gas project.
The operator and project co-owners ExxonMobil and Oil Search have been rattled in the past few months as the recently-installed PNG government had sought to review, and possibly alter, the Papua LNG Gas Agreement.
Following a review of the agreement and negotiations between the two sides, the PNG Cabinet has opted to give the joint venture approval to proceed "full steam ahead" with the Papua LNG project, said Petroleum & Energy Minister Kerenga Kua.
