TotalEnergies Cuts Papua LNG Cost to $14 Billion, Exxon to Become Operator

In early September 2026, TotalEnergies announced it has reduced the projected cost of its Papua LNG project in Papua New Guinea to $14 billion. The company also confirmed that Exxon will take over as operator of the project, a significant shift in leadership for one of the region's major liquefied natural gas developments.