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Papua New Guinea, France's Total sign fiscal agreement for Papua LNG project

MELBOURNE, Feb 9 (Reuters) - The Papua New Guinea government and France’s Total SA on Tuesday signed a long-awaited fiscal stability agreement for the Papua LNG project, PNG Prime Minister James Marape said.

After nearly two years of uncertainty over the fate of the 5.4 million tonne a year liquefied natural gas (LNG) project, Marape said the agreement would stick to terms agreed in April 2019 for a project involving two production units.

“It demonstrates Papua New Guinea’s commitment to the Papua LNG Project and gives comfort and encouragement to the developers to progress the project,” Marape said in a statement. (Reporting by Sonali Paul; Editing by Jacqueline Wong)

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