Trade & Investment

The trade and investment landscape in Papua New Guinea has undergone substantial changes in recent years, driven to a large extent by the country’s large liquefied natural gas (LNG) project, PNG LNG. The development comprises gas production and processing facilities, with its initial phase carrying an estimated cost of $19bn, an investment greater than the country’s GDP at constant prices in 2014, which stood at $15.8bn. Since the facility commenced production in April 2014, exports have reached record levels and the country has experienced its largest trade surplus ever. Even with fading hydrocarbons prices, key figures are holding up, putting PNG in an excellent trade position overall.

This chapter contains interviews with Manasseh Sogavare, Prime Minister, Solomon Islands; and Ivan Pomaleu, Investment Promotion Authority.