Papua New Guinea must ensure that it is at the front of the ‘queue’ in its LNG projects if it is to adapt to future volatility, according to Dr Fereidun Fesharaki, Founder and Chairman of the oil and gas consulting group Facts Global Energy (FGE). He predicts huge shifts in the oil and gas markets.
The Bank of Papua New Guinea has released its Quarterly Economic Bulletin for the December 2018 quarter. David James analyses the report and what it means for business.
The coffee industry in Papua New Guinea is dealing with unusually low prices and poor production levels but there are significant opportunities, especially in commodity and speciality coffees. That was the view of speakers at the 2019 National Coffee Industry Symposium in Port Moresby.
LNG has continued its slide and oil prices also weaken but cocoa and coffee prices rise. Business Advantage PNG’s monthly review of Papua New Guinea commodities and financial markets.
The World Bank has released a new report, which provides a bullish assessment on economic growth in Papua New Guinea. But it says the country’s dependence on natural resources is not generating sufficient jobs to absorb its growing population.
Papua New Guinea was the first Pacific country to sign up to China’s Belt and Road Initiative, an infrastructure development program across Eurasia. David James considers some of the implications identified by analysts.
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.
Things are looking up for Papua New Guinea’s manufacturing sector and moves are afoot to develop strategies to foster local companies. David James profiles the sector.
Papua New Guinea’s construction industry continues to face challenges, says Frank McQuoid, Chairman of manufacturer Steel Industries. But others say it is on the edge of a boom that will extend beyond the resource sector. David James examines both sides of the story.
The Total-led Papua LNG project looks set to enter its Front End Engineering Design (FEED) phase. It’s a good sign: according to the ANZ’s PNG Economic Outlook, 97 per cent of the gas projects that enter into FEED have a positive final investment decision. David James explores.