Daewoo E&C Wins Bid for Papua LNG, Venture Global Surges in Q2

TotalEnergies and its partners have selected South Korea's Daewoo E&C as the preferred bidder for the engineering, procurement, and construction (EPCC) of the central processing facility and well pads in Papua New Guinea's planned Papua LNG project.

The decision was made after a competitive bidding process. This is a significant development for the project, which aims to bring liquefied natural gas (LNG) production online in Papua New Guinea.

Elsewhere, US LNG exporter Venture Global reported revenue of $4.58 billion in the second quarter of this year, a 47.6 percent rise from the same period last year. Its net income surged 266 percent year-on-year to $1.35 billion.