A wave of new developments in Papua New Guinea’s (PNG’s) upstream energy sector is under way, including the exploration of new fields and the signing of a deal that could affect the timing of the country’s second liquefied natural gas (LNG) project.
Papua New Guinea Energy
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Rapid economic expansion in Papua New Guinea (PNG) has produced some challenges, including the question of how to supply electricity to a growing population spread across 450,000 sq km of rugged terrain. However, the government’s long-term bid to boost both generation and distribution capacity is making progress, with plans to build new infrastructure for the sector rapidly gathering pace.
Investors have put concerns about political uncertainty in Papua New Guinea (PNG) to one side, encouraged by the keen interest buyers are showing in the country’s natural gas blocks and major new finds.
Expectations that Papua New Guinea (PNG) will emerge as a major energy supplier for Asia’s growth leaders in the next decade have been heightened by reports of progress on two major liquefied natural gas (LNG) plants currently under development.
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