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TotalEnergies (NYSE: TTE) plans to bury about 1M metric tons/year of carbon dioxide at the planned Papua LNG project, with a gas capture and storage project expected to be online at the start of gas production by the end of 2027, Reuters reported on Wednesday.
TotalEnergies (TTE) country representative for Australia and Papua New Jean-Francois Hery told Reuters that the company believes it will be able to sell most of its gas supplies before making a decision on the Papua LNG project, which is due at the end of the year. 2023.
The project is one of the few that will include air capture and storage from day one, the official said.
The 5.4M metric tons/year liquefied natural gas project is a joint venture between TotalEnergies (TTE), ExxonMobil, Santos and state-owned Kumul Petroleum Holdings.
TotalEnergies (TTE) “makes a lot of money and has a lot of money, [and] shareholder returns may rise in the future,” Jonathan Weber writes in an analysis posted on Seeking Alpha.
