Analysis of test results from a potentially new LNG find at the Barikewa-3 well in the Papua New Guinea Forelands is underway but it’s too early to say how that gas will be commercialised, according to well operator, Oil Search. Meanwhile, the signing of a long-term contract for gas from PNG with China confirms demand for gas from China will continue well into the 2020s.
‘Encouraging’ gas find likely to boost Papua New Guinea LNG expansion as China locks in long-term contract
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5 Sep 2018 by 1 Comment
Papua New Guinea’s Woodlark Island gold project to get go-ahead decision by year’s end
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28 Aug 2018 by Leave a Comment
Milne Bay’s Woodlark Gold Project is likely to get the go ahead within the next three months, after developer Geopacific Resources assesses the definitive feasibility study which will be completed in Q3 this year. Managing Director, Ron Heeks, told Business Advantage PNG, if it goes ahead, production should commence in early 2020.
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.
Moving from aid to trade: successful mentoring and investment projects in Vanuatu and Samoa expanding into Papua New Guinea
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8 Aug 2018 by 1 Comment
After the successful launches of sustainable small businesses in Vanuatu and Samoa, a donor-funded private sector initiative is preparing to expand into Papua New Guinea. Anna Moegerlein from Melbourne’s The Difference Incubator explains the initiative to Business Advantage PNG.
Lae port expansion to be completed late 2019, says PNG Ports MD
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24 Jul 2018 by Leave a Comment
A second major port in Papua New Guinea is expected to be completed in late 2019, says PNG Ports Corporation Managing Director, Stanley Alphonse. He tells Business Advantage PNG the K350 million project will include the greater Lae Tidal Basin Project and the Huon Industrial Park development in Lae.
Improving access to finance the key to solar power expansion in Papua New Guinea
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3 Jul 2018 by 3 Comments
Improved access to finance could the rapid development of solar power, according to Jon Pittar, Managing Director of solar provider, Solar Solutions PNG. If the government is to achieve its energy goal of giving access to power to 70 per cent of the population by 2030, he believes solar-powered systems must be provided to rural communities.
Undersea cable linking Papua New Guinea, Solomon Islands and Australia to be completed late 2019
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25 Jun 2018 by 2 Comments
An K331 million undersea cable linking Papua New Guinea, Solomon Islands and Australia is expected to be up and running by the end of 2019. It follows concerns by Australian officials that if China’s Huawei telco built the project, it could access Australia’s telecommunications infrastructure, creating national security concerns.
Trade expert Bonapas Onguglo outlines where Papua New Guinea could be missing opportunities
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12 Jun 2018 by Leave a Comment
Bonapas Onguglo has been working as a trade analyst at the United Nations Conference on Trade and Development (UNCTAD) since 1984, advising African governments how to expand their economies. He sees new opportunities in agribusiness and the ‘ocean economy’.
Court hearings in Port Moresby and Melbourne over future of Bougainville’s Panguna copper mine
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8 May 2018 by Leave a Comment
A court hearing this week (17 May) in Port Moresby will help determine if there is a judicial review of the Bougainville government’s decision to refuse the extension of an exploration licence for the Panguna copper mine. Also that day, a federal court hearing will be asked to rule on the release of documents showing the relationship between dissident landowners and a Perth-based company seeking exploration rights to Panguna.
SME credit fund role part of our Papua New Guinea social responsibility, says Kina Bank CEO
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24 Apr 2018 by 1 Comment
Kina Bank is working with the Australian government and other donors to set up a credit fund for small and medium sized business. CEO Greg Pawson has told business leaders in Port Moresby the scheme is part of the bank’s corporate responsibility.
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