The energy sector in PNG, which has seen declining production for decades, is set to become a major driver of the economy as new investments come online. Gas is now the focus, with the $15.7bn ExxonMobil-led PNG LNG project due to start production in 2014. The megaproject has driven construction growth and set off a real estate boom in the nation’s capital thanks to an influx of foreign...
Papua New Guinea Energy
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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.