State utility PNG Power has been authorised to start negotiations with Hong Kong-based liquefied gas and power company, Energy World Corporation, to build a new 30MW-to-80MW diesel and gas-fuelled power plant in Port Moresby.
Industry sectors
Power outages may become a distant memory, with Papua New Guinea’s power generation capacity set to double in coming years, largely due to increased investment from the private sector.
Papua New Guinea’s much-anticipated second gas project could turn out to be an extension of its first, as ExxonMobil commences exclusive negotiations with InterOil and Pacific LNG.
Japanese investment in Papua New Guinea’s gas resources has increased, with Japan’s second largest gas company buying a 40% stake in Australia’s Horizon Oil, which has an interest in several PNG petroleum leases.
‘A work in progress’ is how Brett Andrew describes his rebuilding of the decades-old Papua New Guinea finance firm, RIFL.
Paul Barker argues for a far greater emphasis on Papua New Guinea’s largest most widespread economic activity—agriculture.
Papua New Guinea’s largest bank, BSP, has joined PNG’s growing mobile wallet market, with the launch last week of Wantok Moni.
The new President of Papua New Guinea’s Chamber of Mines and Petroleum is concerned about the impact of falling commodity prices. Smaller profits may see some of PNG’s resources projects put on the backburner, he warns Business Advantage PNG.
John Tangit has been appointed Acting CEO of PNG Power, following the resignation of Tony Koiri.
Interview: departing CEO Ian Clyne on three companies that have transformed Papua New Guinea forever
After five years as ‘boss bilong BSP’, Ian B Clyne completes his five-year appointment as the CEO of PNG’s largest bank at the end of this month. Business Advantage PNG caught up with him for one final chat.