Santos LNG expands, boosts Papua New Guinea holding as ExxonMobil takes over as operator

Santos will proceed later this year to build a $19.5 billion LNG project in Papua New Guinea after its French partner TotalEnergies announced a suite of deals that include Australian second-largest oil and gas company lifting its stake in the venture.

Santos will become the second-biggest overseas partner in the $US14 billion ($19.5 billion) Papua LNG project after ExxonMobil as a result of TotalEnergies reducing its stake to 20 per cent.

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