Economy · World
Santos Increases Stake in Papua LNG Project
Australian oil and gas company Santos has increased its stake in the Papua LNG project, a significant liquefied natural gas development in Papua New Guinea. The project is valued at approximately $19.5 billion. French energy giant TotalEnergies will cede operatorship of the project to American multinational ExxonMobil. This move is intended to unlock the project's development. Santos's increased participation marks a strategic move in the region's energy sector.
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- Centre (2): Australian Financial Review, Bloomberg