EconomyLens.com
No Result
View All Result
Monday, November 2, 2026
  • Home
  • Economy
  • Business
  • Markets
  • Tech
  • Editorials
EconomyLens.com
  • Home
  • Economy
  • Business
  • Markets
  • Tech
  • Editorials
No Result
View All Result
EconomyLens.com
No Result
View All Result
Home Business

ExxonMobil urged to re-think Papua New Guinea gas project

Emma Reilly by Emma Reilly
November 1, 2026
in Business
Reading Time: 5 mins read
A A
3
19
SHARES
235
VIEWS
Share on FacebookShare on Twitter

ExxonMobil is resuming a liquefied natural gas development project in Mozambique, more than four years after it was paused due to a jihadist insurgency. ©AFP

Sydney (AFP) – One of the world’s rarest bats could be at risk if ExxonMobil forges ahead with a Papua New Guinea gas project, a law firm working with impacted landowners warned Monday. The US-based energy giant struck a deal last month to take control of Papua LNG, which aims to tap into massive gas fields nestled in the forests of Papua New Guinea. A 320-kilometre (200-mile) pipeline will be built to transport extracted gas to a coastal processing facility, eventually pumping out 5.6 million tonnes of liquified natural gas each year.

Related

US oil companies aim to squeeze more out of refineries

Canada, EU launch new alliance with deals on Ukraine, minerals, AI

US jury hands win to Bayer in weedkiller cancer case

Carmaker Audi cuts outlook again on China, US woes

Drugs giant AstraZeneca reveals higher profits, savings plan

With a final government decision expected in December, the Centre for Environmental Law and Community Rights (CELCOR) has written to ExxonMobil to express concern. “The Papua LNG footprint will pass through densely forested landscapes, fragile ecosystems, floodplains, and mangrove-covered coastlines,” the centre wrote in a letter seen by AFP. “The project area-of-influence includes 27 terrestrial species already at threat of extinction.” One species potentially at risk was the Bulmer’s fruit bat, the centre wrote. At last count, there were fewer than 200 adult bats in the wild, according to world authority the International Union for Conservation of Nature. Dozens more species that have rarely been studied outside Papua New Guinea were also feared to be in harm’s way. “If external scientists have never studied a species, then potential risks cannot be accurately understood, let alone mitigated,” the letter read.

The gas fields were discovered more than a decade ago, but the project has been beset by a series of political and financial issues. It has stirred a mix of excitement at the prospect of new jobs and investment, and worry about possible environmental damage. ExxonMobil agreed to take over as operator in September, assuming responsibility from France-based energy major TotalEnergies, which retains a significant stake. Australian gas exploration company Santos and Papua New Guinea’s national energy company Kumul Petroleum are among the other major partners.

CELCOR executive director Peter Bosip said he worried many communities were still in the dark over the project’s potential impacts. “The landowners are not particularly clear about the social and environmental impacts of the project, so the government must not rush this project,” he told AFP. Environmental advocacy group Market Forces said Papua LNG posed a risk to one of the world’s biodiversity hotspots. “At least 32 banks and export credit agencies around the world have ruled out financing Papua LNG due to serious human rights, biodiversity, and climate risks,” said Market Forces campaigner Angelica Mantikas. Papua LNG has previously said that it integrated “environmental and social considerations into every state of its development”. This included efforts to limit the project’s climate impact and measures to ensure that biodiversity continued to flourish.

AFP contacted ExxonMobil and Papua LNG for comment.

© 2024 AFP

Tags: biodiversityenvironmentnatural gas
Share8Tweet5Share1Pin2Send
Previous Post

South Korea to double spending on AI and chips in 2027

Next Post

Bangladesh garment workers clash with police protesting higher wages

Emma Reilly

Emma Reilly

Related Posts

Business

From minerals to AI, EU and Canada to forge new alliance

October 30, 2026
Business

Charity crowdfunds millions to buy historic English estate

October 29, 2026
Business

Utah files criminal charges against prediction market Kalshi

October 29, 2026
Business

Bugatti CEO to stop leaving keys inside cars after Chiron theft

October 29, 2026
Business

French court rules Meta must negotiate over rights payments

October 29, 2026
Business

Airbus aims for record deliveries despite disappointing quarter

October 29, 2026
Next Post

Bangladesh garment workers clash with police protesting higher wages

0 0 votes
Article Rating
Subscribe
Notify of
guest
guest
3 Comments
Oldest
Newest Most Voted
  • Trending
  • Comments
  • Latest

New York ruling deals Trump business a major blow

September 30, 2024

Elon Musk’s X fights Australian watchdog over church stabbing posts

April 21, 2024

Women journalists bear the brunt of cyberbullying

April 22, 2024

France probes TotalEnergies over 2021 Mozambique attack

May 6, 2024

New York ruling deals Trump business a major blow

104

Ghanaian finance ministry warns against fallout from anti-LGBTQ law

74

Shady bleaching jabs fuel health fears, scams in W. Africa

71

Stock markets waver, oil prices edge up

65

Bangladesh garment workers clash with police protesting higher wages

November 2, 2026

ExxonMobil urged to re-think Papua New Guinea gas project

November 1, 2026

South Korea to double spending on AI and chips in 2027

November 1, 2026

Asian stocks mixed as tech sector struggles to rebound from selloff

November 1, 2026
From EconomyLens

Clear insights, straight to your inbox.

Get the stories and perspectives shaping the economy.

EconomyLens Logo

We bring the world economy to you. Get the latest news and insights on the global economy, from trade and finance to technology and innovation.

Your Privacy Choices

Pages

  • Home
  • About Us
  • Privacy Policy
  • Contact Us

Categories

  • Business
  • Economy
  • Markets
  • Tech
  • Editorials

Network

  • Coolinarco.com
  • CasualSelf.com
  • Fit.CasualSelf.com
  • Sport.CasualSelf.com
  • SportBeep.com
  • MachinaSphere.com
  • MagnifyPost.com
  • TodayAiNews.com
  • VideosArena.com
© 2026 EconomyLens.com - Top economic news from around the world.
No Result
View All Result
  • Home
  • Economy
  • Business
  • Markets
  • Tech
  • Editorials

© 2024 EconomyLens.com - Top economic news from around the world.