Papua LNG: call to commit not to support the project

Fifty civil society organizations are urging financial institutions to cease support for the Papua LNG project, arguing it is incompatible with the 1.5°C global warming limit and the IEA Net Zero scenario. The project, involving TotalEnergies, ExxonMobil, Santos, and JX Nippon, is criticized for its estimated 220 million tons of CO2 equivalent emissions, risks of human rights abuses and environmental damage in Papua New Guinea's Gulf Province, and potential financial risks due to projected peaks in global gas demand by 2030.

• The Papua LNG project, consisting of 9 production wells, a gas processing plant, 4 electric liquefaction trains, and a 320 km pipeline, is deemed incompatible with the IEA Net zero by 2050 scenario, which states that "no new upstream oil and gas project, and no new LNG terminal are required to meet global energy needs."
• The project's total scope three emissions are estimated at 220 million tons of CO2 equivalent (MTCO2e), a volume equivalent to the annual emissions of the entire population of Bangladesh (169 million people).
• The project poses environmental and social risks in Papua New Guinea's Gulf Province, where coastal areas are already affected by rising sea levels and storms. Concerns are raised regarding the lack of transparency in consultations and the failure to ensure Free, Prior and Informed consent, with a Council of Chiefs representing 600 clans denouncing the process in September.
• The project faces significant financial risks, including a potential glut of global gas shipments in 2026 and 2027 and a projected peak in global gas demand before the end of the decade. Additionally, there are no reported long-term sales and purchase agreements (SPAs) to ensure the gas will be sold, increasing the risk of stranded assets.
• Papua New Guinea has identified potential renewable energy projects that could expand energy access, with the required financing for these alternatives estimated at less than 100 times the budget of the Papua LNG project.

APA

Martin, L. (2023). Papua LNG: call to commit not to support the project. Reclaim Finance. https://reclaimfinance.org/site/en/2023/12/13/papua-lng-call-to-commit-not-to-support-the-project/

Chicago

Martin, Léo. Papua LNG: call to commit not to support the project. Reclaim Finance, 2023. https://reclaimfinance.org/site/en/2023/12/13/papua-lng-call-to-commit-not-to-support-the-project/.

Wikipedia

{{cite press release |last1=Martin |first1=Léo |title=Papua LNG: call to commit not to support the project |publisher=Reclaim Finance |date=13 December 2023 |url=https://reclaimfinance.org/site/en/2023/12/13/papua-lng-call-to-commit-not-to-support-the-project/ |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@misc{martin2023papua, author = {Martin, Léo}, title = {{Papua LNG: call to commit not to support the project}}, publisher = {Reclaim Finance}, year = {2023}, month = dec, url = {https://reclaimfinance.org/site/en/2023/12/13/papua-lng-call-to-commit-not-to-support-the-project/}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }