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EnergyConfirmedMedium
5.1

TotalEnergies cedes Papua LNG management to Exxon, cuts capex

TotalEnergies is transferring operatorship of the Papua LNG project to ExxonMobil, reducing its stake to 20% and selling 9.1% to partners, while cutting planned capex to ~$14B. This marks a strategic retreat from a major LNG venture, likely reflecting portfolio optimization amid softer LNG prices. The move shifts operational control to Exxon, altering project execution dynamics in Papua New Guinea.

Capital.gr3 days agoPG, FR, US, GNCredibility 37%View source

Score Breakdown

Mosaic Score5.1
Confidence0.5
Significance0.5
Source credibility0.4

Intelligence Tags

#lng#oil-majors#capex#project-management#exxonmobil#totalenergies

Locations

Papua New Guinea

Entities

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Source

Related signals

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