Barry confident in govt’s financial capacity to have a role in LNG project

EXXONMobil PNG managing director Andrew Barry is confident of the government’s financial capacity to take part in the Papua LNG project.
He was speaking as he answered a question from Facts Global Energy Group chairman Dr Fereidun Fersharaki during the PNG Petroleum and Energy Summit on Monday.
The government is expected to contribute about 22 per cent equity to the total cost of the project construction.
“That is one of the things that we are collectively working through together and working with the government on different options in the financing activities,” Barry said.
“I am confident that between ourselves and our partners and the government that we will find a solution.”
Barry noted that the upcoming negotiations with the government and partners were important milestones for the project.
“The real next big step for our perspective will be the negotiations around the gas agreement and the fiscal certainty once we get into that FEED. And once you get alignment on FEED, the gas agreements, the fiscal terms, then the FID (Final Investment Decision).
“And there is a lot of work associated with commercial agreements, integration activities and securing markets and sales agreements.”