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The economic downturn resulting from lower global commodity prices and the completion of the PNG LNG project means the future of Papua New Guinea must be navigated with care. The country possesses plentiful natural resources, which, given effective management, could provide new revenue to spur diversification, as well as sustainable and equitable growth in all provinces. ....
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27 January 2021 0:23 GMT Updated 27 January 2021 0:23 GMT in Wellington OPINION: Uncertainty shrouds Papua New Guinea’s upstream oil and gas sector, which suffered a punishing 2020 due to the effects of Covid-19 and policy interventions by the government. Apart from the PNG LNG project, which actually produced at record levels of 8.8 million tonnes per annum of liquefied natural gas, upstream activity essentially ground to a halt in the country last year. Sign up for our new energy transition newsletter Gain valuable insight into the global oil and gas industry s energy transition from Accelerate, the new weekly newsletter from Upstream and There was no exploration drilling and no progress on the three-train LNG expansion, although there was an acceptance by the end of the year that the Total-led Papua LNG project should proceed as a standalone two-train scheme. ....
PNG expects international interest in fuel hub project Jan 10, 2021 – 4.45pm Share An innovative floating gas-to-power project planned on Papua New Guinea s northern coast is expected to attract interest from international equity partners and mining companies as it offers the prospect of cleaner fuel options for households and resource developers. Wapu Sonk, managing director of PNG national oil company Kumul Petroleum Holdings, which is leading the project, said the facility will act as a fuel hub – receiving and storing LNG, regasifying and distributing gas for power generation in the region. The LNG-to-power project near PNG s second city of Lae could supply energy to Lihir Island. ....