In 2021, the state earned record revenues from the project, with over K2.2 billion delivered to the government.
Revenues delivered by the PNG LNG project included K7.1 billion flowing to Kumul Petroleum Holdings Ltd and an estimated K4.5 billion in various taxes paid to the Internal Revenue Commission.
"The revenues and associated benefits from the PNG LNG project provide the PNG government the opportunity to promote sustainable, long term economic development.
"We are extremely proud of our performance in contributing to the PNG economy," ExxonMobil PNG managing director Peter Larden said.
"Since 2014 we have delivered over K14 billion to the country, including some K4.5 billion in taxes. The tax figure includes the 2022 estimated tax payment of K1.1 billion made in April resulting from increased global oil prices and sustained volumes.
"This is one of the largest single tax payments by the PNG LNG project to date.
"We are pleased to see this increased revenue going to the state."
According to the company, revenues from the PNG LNG project are delivered through different mechanisms, including corporate and payroll taxes, equity (through state participation), development levy and royalties.
As a founding member of the PNG Extractives Industry Transparency Initiative (PNG EITI), revenues and benefits from the PNG LNG project as well as the broader petroleum and mining industry are reported and made publicly available.
