Papua New Guinea’s Petroleum Minister has announced that the government will honour a gas deal struck with French major Total SA for the US$10 billion Papua LNG project. The project will be the single largest foreign investment in the Pacific country since the advent of the US$19 billion PNG LNG project a decade ago.
US$10 billion Papua LNG project to go ‘full steam ahead’ in Papua New Guinea
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3 Sep 2019 by 3 Comments
Papua New Guinea government to ‘stand behind’ Papua LNG gas agreement
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5 Aug 2019 by Leave a Comment
Papua New Guinea’s Petroleum Minister Kerenga Kua has announced that the National Executive Council (PNG’s cabinet) has ‘in principle’ agreed to ‘stand behind’ the gas agreement signed in April for the US$10 billion (K33.7 billion) Total-led Papua LNG project.
Santos to become a stakeholder in the P’nyang natural gas field project
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22 May 2019 by Leave a Comment
Santos has acquired a 13.5 per cent interest in the P’nyang natural gas field in the PNG LNG project in Papua New Guinea. Analysts are generally bullish on the move, saying the company now has a strong balance sheet and is set to meet its production targets.
US$10 billion Papua LNG agreement signed between Papua New Guinea government and developers
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9 Apr 2019 by Leave a Comment
The Papua New Guinea State has signed the gas agreement for the US$10 billion (K33.7 billion) Papua LNG project with Total, ExxonMobil and Oil Search. The project, which will double PNG’s gas production, represents the second-largest foreign direct investment ever in the country.
Date announced for Papua LNG gas agreement in Papua New Guinea
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20 Mar 2019 by Leave a Comment
Papua New Guinea’s Prime Minister Peter O’Neill has announced a date for the signing of the gas agreement for the US$13 billion Papua LNG project. Opening the PNG Petroleum and Energy Summit in Port Moresby yesterday, he also outlined some of the key elements the agreement will contain.
Papua New Guinea’s LNG capacity could double, says ExxonMobil SVP
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27 Nov 2018 by Leave a Comment
Neil Chapman, Senior Vice President of ExxonMobil, told the APEC CEO Summit earlier this month that LNG capacity in Papua New Guinea could double. He claimed the global shift to natural gas to reduce carbon emissions is favouring the industry.
Opinion: Papua New Guinea could provide a model for the developing world says Oil Search MD Botten
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26 Nov 2018 by 2 Comments
Peter Botten, Managing Director of Oil Search, says including communities in the development agenda is a way that resource developers can engage with governments and other stakeholders. He explains that what his company has done in PNG can be a model for other developing countries.
In brief: Russia and PNG to set up mutual embassies, and other business news
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21 Nov 2018 by Leave a Comment
Russia plans to open an embassy in Port Moresby, the Australian Prime Minister announces relaxed visa rules for Pacific nations, and Crystal Kewe, the young app developer, wins a major APEC award.
Prime Minister O’Neill tells APEC CEO Summit maintaining international trade rules critical
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20 Nov 2018 by Leave a Comment
The Prime Minister Peter O’Neill gave an upbeat take on the Papua New Guinea economy when opening the APEC CEO Summit. He pointed to the need for consistent trade rules, strong engagement with civil society and the community, and a focus on the opportunities offered by the digital economy.
Papua New Guinea LNG production predicted to double within 10 years, reports Fitch Research
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14 Aug 2018 by Leave a Comment
Papua New Guinea’s LNG exports will more than double over the next 10 years, as a result of the planned expansion works, according to Fitch Solutions’ Senior Country Risk Analyst, Raphael Mok. But, he tells Business Advantage PNG, the government must address landowners’ backlash against royalty payments.
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