‘Encouraging’ gas find likely to boost Papua New Guinea LNG expansion as China locks in long-term contract

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.

In brief: Foreign exchange inflows improving, and other business news

Foreign exchange inflows improving, Moni Plus opens in Lae, and changes to boards of government-owned businesses. Your weekly digest of the latest business news.

In Brief: Oil Search makes gas discovery and other business news

A new gas discovery by Oil Search, special economic zone proposed for West Sepik province and new climate deal inked. Your weekly digest of the latest business news.

Kumul Petroleum MD believes ‘step change’ needed to achieve electrification targets in Papua New Guiea

The Managing Director of Kumul Petroleum Holdings (KPH), Wapu Sonk, believes a ‘step change’ is needed in the electrification of Papua New Guinea. He argues that some gas production should be reserved for domestic production.

In brief: Papua New Guinea on the cusp of a ‘super cycle’ in mining investment, says the ANZ, and other business stories

Papua New Guinea economy on the cusp of a mining boom, kina’s fair value ‘around US 23-25 cents’, and niche tourism could nearly triple tourism numbers in 10 years. Your weekly digest of the latest business news.

Papua New Guinea Earthquake Update: relief efforts continue as Restoration Authority established

The Papua New Guinea government has set up a new authority to oversee the restoration of services and infrastructure, following the February 26 earthquake. As humanitarian relief work continues, analysts expect GDP to fall slightly.

People moves: Lae Chamber of Commerce, Oil Search, Nautilus Minerals, Insurance Commission

New Executive voted in at Lae Chamber of Commerce, a new Director at Nautilus Minerals

People moves: Bank South Pacific, Credit Corp, Kutubu Special Purpose Authority, Oil Search, Westpac Outstanding Woman of the Year

BSP appoints new General Manager for Pacific Islands, new board appointments at Credit Corp, new board members at Kutubu Special Purpose Authority, resignation at Oil Search and Westpac chooses its Outstanding Woman of the Year.

Papua New Guinea businesses donate K80 million in cash and aid for earthquake relief

Papua New Guinea businesses have donated at least K80 million in cash and equipment to aid February’s earthquake relief program.

Economic update: major projects will be crucial for Papua New Guinea’s economy

The fate of some major projects will be critical for the future of the Papua New Guinea economy over the next decade. In the second of a two-part series, Andrew Wilkins discusses the implications.