With a gas agreement finally executed for the US$10 billion ExxonMobil-led P’nyang gas project, and a start date provided for front end engineering and design for TotalEnergies’ Papua LNG project, Papua New Guinea’s energy sector now has a clear roadmap for the rest of the decade.
Green light for Telstra’s acquisition in Papua New Guinea, Newcrest posts disappointing six month results and flights to Lihir Island resume. The business news your need this week.
BSP Financial Group Limited receives approval to list on the ASX; a new State Negotiating team to be reappointed to the P’nyang gas project, and Joint post-referendum talks between government and Bougainville fruitful. The business news in brief.
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.
The long-awaited signing of the Fiscal Stability Agreement between the Papua New Guinea government and Total SA has been announced. It opens to the way for the project to go forward.
The signing of a fiscal stability agreement between Papua New Guinea and French oil major Total looks set to trigger the FEED phase of the multi-billion dollar Papua LNG project. Wapu Sonk, Managing Director of national oil company Kumul Petroleum, tells Business Advantage PNG the signing is expected within the next two weeks.
Supreme Court to make ruling, Telikom PNG cuts fixed-line call services, and a Total delegation readies to talk Papua LNG. The business news you need to kickstart your week.
Parliament passed six key pieces of legislation that allow the Papua LNG project to move forward, Australia’s Prime Minister cancels his trip to Papua New Guinea and cocoa farmers in East Sepik Province ready to benefit from new project. The business news you need to kickstart your week.
The suspension, at least for now, of negotiations over the P’nyang LNG project, has raised issues about the investment environment in Papua New Guinea and the issue of risk, according to analysts.
As talks between ExxonMobil and Papua New Guinea’s State Negotiating Team over the P’nyang gas project reach their nominated ‘walk away’ deadline today, the Prime Minister, James Marape, has said he is confident that LNG will help underpin economic growth in the country for the next decade.