TotalEnergies to trim Papua LNG stake, hand operatorship to Exxon

TotalEnergies is reducing its stake in the Papua LNG project by selling a 9.1% interest to partners while retaining 20%, and transferring operatorship to ExxonMobil. This move aims to facilitate a final investment decision by year-end for the long-delayed development, leveraging synergies with PNG LNG to enhance competitiveness and secure LNG volumes for Asian markets.