The vision for reforming Papua New Guinea’s power sector is becoming clearer, with power auctions likely to play a major role in driving down electricity prices and helping the country meet its future electricity needs.
Industry sectors
Kumul Petroleum has announced that the PNG government has negotiated an additional seven per cent equity with future joint venture projects with Total after ‘remobilisation talks’ regarding the Papua LNG project in Paris last week.
Last Thursday, Business Advantage PNG hosted a special Papua New Guinea Telecommunications Update with the CEO of PNG DataCo Ltd, Paul Komboi, and telecommunications expert, Dr Amanda Watson. Here are five take-homes from the event.
There are signs of a renewed effort to push ahead on the Total-led Papua LNG project after successful meetings between the company’s CEO and a senior government delegation.
There will be a ‘big shift’ for PNG businesses when they start using cloud technology. Steven Hillyard, General Manager of Pronto Software explains some of the benefits to Business Advantage PNG.
Eric Mossman has stepped into the country’s top tourism job as the Chief Executive Officer of the Papua New Guinea Tourism Promotion Authority (PNGTPA), and he may be the man to lift it out of the COVID-19 downturn.
Papua New Guinea’s largest superannuation fund, Nambawan Super, is a major domestic investor across the economy. CEO Paul Sayer talks with Business Advantage PNG about the impact of the COVID-19 pandemic on its investments, and its future plans.
Having emerged from the ‘most challenging’ year in its 92-year history, Oil Search Ltd is now facing an escalation of COVID-19 infections in Papua New Guinea. In spite of this, shareholders at its annual general meeting were told PNG’s largest company is ‘coming through the challenges well’.
The latest figures from the Bank of Papua New Guinea reveal the negative impact of the global pandemic on PNG’s agricultural sector. Exports of all the country’s major agricultural commodities fell in the 12 months to September 2020, although the falls were partly offset by improved prices in some cases.
The anticipated signing of a gas agreement for Pasca A, Papua New Guinea’s first undersea gas project, has stalled at the eleventh hour. Developer Twinza Oil says it will stand down its project team due to a last-minute State request it claims would render the project ‘unfinanceable’.