A common thread to Papua New Guinea’s two largest energy projects to date – the PNG liquified natural gas (LNG) mega-project and the upcoming Elk-Antelope play – is that while both are now controlled by energy supermajors Exxon and Total, neither was originally discovered by their current operators. Like the development of new “elephant”...
Facing extreme risks from natural disasters, as a result of the country’s location on the geological “Ring of Fire”, insurance is a much-needed service in Papua New Guinea. PNG has frequent earthquakes and is home to a number of active volcanoes. The city of Rabaul was destroyed by volcanic eruptions in 1934 and again in 1994. In 2014, one of...
Continued economic growth in recent years is driving demand for electricity across PNG, straining the capability of the country’s primary grid networks. The widely dispersed population and geographic challenges continue to pose formidable barriers to increasing electrification, while the small but growing capacity serving the main urban areas is...
Due to several factors, Papua New Guinea is one of the least insured countries in the world. It is estimated that premiums comprise just 1.4% of GDP, according to the Pacific Financial Inclusion Programme (PFIP). Other regional competitors and peers have significantly higher rates. The PFIP puts Fiji, for example, at 3.6%. Swiss Re, which does...
THE COMPANY: Newcrest Mining (NCM) is one of the world’s largest gold mining companies and operates mines in four countries, with a global workforce of around 10,000. NCM’s strategy is to build a portfolio of predominantly long-life, low-cost gold assets that can remain profitable...
THE COMPANY: New Guinea Islands Produce Agmark (NGIP Agmark) is a diversified agri-business based in Papua New Guinea and operating plantations, coastal shipping, hardware, machinery, trucking and agricultural supply businesses. NGIP Agmark is PNG’s leading cocoa company, as the...
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