PM in talks with Total over delays

PRIME Minister James Marape is overseas to discuss with TotalEnergies the delay in delivering the US$10 billion (about K37.7 billion) Papua LNG project.
Marape is expected to meet with TotalEnergies chairman and chief executive officer Patrick Pouyanne to be briefed on the status of the project development.
A final investment decision was initially expected to be reached by now but French lender Credit Agricole said it would no longer finance the Papua LNG project in PNG, and the Rovuma LNG project in Mozambique.
This is due to the bank’s commitment to reduce exposure to the oil and gas industry.
Marape said he would express his concern on the slow progress of the project, and get information from Pouyanne on the progress of the project.
He is being accompanied by Petroleum Minister Jimmy Maladina, Gulf Governor Sir Chris Haiveta, Kumul Petroleum Holdings Limited managing director Wapu Sonk, and Mineral Resources Development Company managing director Augustine Mano.
Marape returns tomorrow.