12 More Banks Withdraw Financing for $15 Billion Papua New Guinea LNG Project
NATURAL GAS
Twelve banks have pledged not to finance a $15 billion liquefied natural gas project in Papua New Guinea, joining fifteen banks including Commonwealth Bank and ANZ. TotalEnergies leads the project, which would be the second-largest in PNG, with Santos holding a 22.8% interest and ExxonMobil 37.1%.
The project aims to liquefy four million tonnes of gas annually. A final investment decision has been delayed until late 2026. Environmental activists warn of its negative impact on the local environment and social standards.
Feb 10, 2026, 6:07 PM
