The March Monetary Policy Statement from the Bank of Papua New Guinea has urged the government to rethink the way it negotiates concessions and tax exemptions with new resources projects. Taking a strong position, it points to how previous agreements have been a factor in foreign exchange shortages and adverse trends in government finances.
Bank of Papua New Guinea urges tougher stance on new resources projects
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10 Apr 2019 by Leave a Comment
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.
In Brief: signing of the Papua LNG project agreement deferred and other business stories
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8 Apr 2019 by Leave a Comment
The signing of the Papua LNG project deferred, PNG LNG signs Singapore deal, and Minister flags new Mining Act. Your weekly digest of the latest business news.
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 LNG expected to drive development of Special Economic Zone in Gulf Province
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5 Mar 2019 by 20 Comments
A fifteen-year plan to develop the Ihu Special Economic Zone is expected to be approved this month. Driving its development will be the infrastructure requirements for Papua New Guinea’s second liquefied natural gas project—Papua LNG.
In brief: Papua LNG project to put Papua New Guinea as leading LNG exporter, and other business stories
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15 Jan 2019 by Leave a Comment
Forex turnover more than K4b in October, call for joint PNG-Australia coastguard initiative, and one kina chocolate bar on sale locally. Your weekly digest of the latest business news.
Production from Papua LNG in Papua New Guinea could start in 2024, says Total Managing Director
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4 Dec 2018 by Leave a Comment
French super major Total will look to have a final gas agreement with the Papua New Guinea government for the Papua LNG project by March 2019. If the project gets the final go-ahead, production should start in 2024, according to Jean-Marc Noiray, Managing Director of Total E&P PNG.
O’Neill to announce preliminary agreements for Papua LNG and Wafi-Golpu to coincide with APEC Leaders Meeting
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7 Nov 2018 by Leave a Comment
The Prime Minister Peter O’Neill has announced that Heads of Agreements will be signed for the Wafi-Golpu mine and Papua LNG project, to coincide with the APEC Leaders Week. In a pep to talk to business last week, he emphasised the benefits of hosting APEC 2018.
Prime Minister gives upbeat take on Papua New Guinea’s economy
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7 Aug 2018 by 1 Comment
The Prime Minister, Peter O’Neill, speaking at Business Advantage Papua New Guinea Investment Conference in Brisbane, said the mid-year assessment of the economy was better than anticipated. He said the growing investment interest in the Pacific from China, Australia and the United States is ‘healthy’.
Six questions for Philippe Blanchard, Managing Director, Total E&P PNG
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11 Apr 2018 by Leave a Comment
Papua New Guinea’s second LNG plant is expected to be ready by 2023-2024, according to Total Managing Director, Philippe Blanchard. He told Business Advantage PNG the company is also keeping its eyes open for other energy plants in PNG.
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