US$10 billion Papua LNG agreement signed between Papua New Guinea government and developers

Welcome,

The Papua New Guinea State has signed the gas agreement for the US$10 billion (K33.7 billion) Papua LNG project with Total, ExxonMobil and Oil Search. The project, which will double PNG’s gas production, represents the second-largest foreign direct investment ever in the country.

Date announced for Papua LNG gas agreement in Papua New Guinea

Welcome,

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.

In Brief: Funding for the Gulf to Southern Highlands Highway missing link and other business stories

Welcome,

The Gulf to Southern Highlands Highway missing link is set to be funded under the new tax credit scheme, K56 million in royalties for forest landowners, and Geopacific Resources announces the acquisition of the remaining seven per cent of JV with Kula Gold. Your weekly digest of the latest business news.

In Brief: US$13 million airport project announced in Mendi and other business stories

Welcome,

Papua New Guinea’s Prime Minister has announced a US$13 million airport in Mendi and Moody’s has changed the country’s issuer ratings from negative to stable. Your weekly digest of the latest business news.

In Brief: Concern about changes to investment laws and other business stories

Welcome,

Business concern about Papua New Guinea’s new foreign investment laws, a new strategy to develop the financial sector and Oil Search CEO receives award. Your weekly digest of the latest business news.

In brief: Lihir most productive mine in PNG, and other business stories

Welcome,

Lihir most productive mine, apprentice of the year named, and a public-private partnership for power in Hela. Your weekly digest of the latest business news. Lihir Gold Mine in the New Ireland Province has topped the mining sector in the country as the most productive mine, according to Mining Minister Johnson Tuke. ‘In 2017, it […]

Opinion: Papua New Guinea could provide a model for the developing world says Oil Search MD Botten

Welcome,

Peter Botten, Managing Director of Oil Search, says including communities in the development agenda is a way that resource developers can engage with governments and other stakeholders. He explains that what his company has done in PNG can be a model for other developing countries.

Prime Minister O’Neill tells APEC CEO Summit maintaining international trade rules critical

Welcome,

The Prime Minister Peter O’Neill gave an upbeat take on the Papua New Guinea economy when opening the APEC CEO Summit. He pointed to the need for consistent trade rules, strong engagement with civil society and the community, and a focus on the opportunities offered by the digital economy.

In brief: PNG Power’s APEC commitment, and other business stories

Welcome,

Oil Search’s strong result, PNG Power promises, and a loan agreement for Crater Gold Mining. Your weekly digest of the latest business news.

In brief: Abel to present on economic integration, and other business news

Welcome,

Abel on economic integration, renewable energy transition by 2050 and a K2m commitment to revive Goilala coffee. Your weekly digest of the latest business news.