Eneos unit buys stake in Papua New Guinea LNG project

Eneos Holdings' (TSE:5020) subsidiary Eneos Xplora announced Tuesday an agreement to purchase from TotalEnergies (EPA:TTEF) an extra 0.49% interest in the Papua LNG project, which is located in Papua New Guinea.

The Japanese company said the transaction is conditional on a final investment decision for the project and on regulatory clearances.

The Papua LNG project is designed to process gas from the Elk-Antelope field in Gulf Province and produce 5.6 million metric tons of LNG per year.

According to Eneos Xplora, the acquisition will deepen its business base in Papua New Guinea and help secure stable energy supplies to Japan and other Asian nations.

This article was generated with the support of artificial intelligence and reviewed by an editor. Additional information can be found in our Terms & Conditions.