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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.

Leading social commentator and business analyst Bernard Salt AM and futurist Mark Pesce have been confirmed as the two keynote speakers for this year’s Business Advantage Papua New Guinea Investment Conference, to be held in Sydney on 19 and 20 August.

The State of Papua New Guinea has lost its attempt in the Singapore High Court to wrest control of the remaining assets of PNG Sustainable Development Program Ltd (PNGSDP), worth US$1.4 billion (K4.72 billion).

With the signing of the Papua LNG gas agreement with Papua New Guinea’s government imminent, Managing Director of Total PNG Ltd, Jean-Marc Noiray, shares his thoughts on the US$10 billion Papua LNG project with Business Advantage PNG.

Data costs are likely to fall by 80 per cent because of the Coral Sea Cable System, which is scheduled to be connected to Port Moresby later this year, according to Peter Williams, Chief Executive of Deloitte Digital. He believes Papua New Guinean businesses will have to rethink their approach to investment, hiring, management and technological roll out.

Oil prices have strengthened, but LNG prices have come off sharply. Copper has eased slightly. Business Advantage PNG’s monthly overview of commodity and financial markets.

Port Moresby’s electricity generation capacity is set to almost double, with the advent of two new independent power producers, Dirio Gas & Power and NiuPower. For the first time,  gas will be used for domestic power supply in Papua New Guinea—but challenges remain.

In Brief: Papua New Guinea’s government reaffirms its commitment to the development of the petroleum and energy sectors and other business stories

The new Chief Executive of Air Niugini, Alan Milne, says that after two difficult years for the airline, the prospects are looking much better. He says he is adopting a ‘four pillar’ program to transform the carrier.

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.