Santos Bets Big on Papua LNG | Adelaide News

Santos is pouring $262 million into Papua New Guinea’s ambitious Papua LNG project, boosting its stake to 21% and positioning itself as the second-largest partner behind ExxonMobil. The project, capable of producing 5.6 million tonnes of LNG annually from over a billion barrels of oil equivalent, aims to tap into Asia’s growing energy demand — but final approval isn’t expected until Q4 this year. With Santos’ CEO calling it a strategic move for Asian markets and the existing PNG LNG facility already fueling national revenue since 2014, this high-stakes bet could unlock Papua New Guinea’s second major LNG export hub — if the green light comes.

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