The near future will bring positive change for the energy sector and the economy as a whole as the investment and construction phase of the $19bn Papua New Guinea liquefied natural gas (LNG) project winds down and the first shipments of gas begin to flow from the ExxonMobil facility. Even with the optimism surrounding this signature...
As the energy industry takes on an increasingly important role within the economy, the government of Papua New Guinea has been moving in recent years to update its regulatory framework for the sector through the creation of new government entities and an overhaul of related laws. Under the current Oil and Gas Regulation of 2002, which updated...
Much of the rapid growth that has occurred over the past decade across a wide swath of Papua New Guinea’s economy has been either directly or indirectly the result of massive investments and projected future earnings of the ExxonMobil PNG liquefied natural gas (LNG) project. As this project prepares for its first delivery starting in 2014,...
During the past 10 years, Colombia has emerged as one of Latin America’s leading hydrocarbons producers. With just over 1m barrels per day (bpd) of production in 2013, Colombia trailed only Mexico, Venezuela and Brazil in the region. On a relative basis, natural gas production, at 1.2bn cu feet (bcf) per day, is more modest, but has grown every year but one since 2003....
The electricity plants and transmission network are among the strongest aspects of Colombia’s infrastructure and a point of reference for Latin American countries seeking to modernise their own grids. At home, Colombia’s robust electricity infrastructure has been a boon to growth – especially considering the deficiencies in other parts of the public works network – and...
As of mid-2014 Colombia was on the verge of tapping its vast reserves of shale and offshore oil and gas. Exploiting these resources will help the country’s hydrocarbons sector tackle its two primary challenges: low reserves and limited production growth. Despite its position as one of the world’s leading producers, Colombia has an extremely low reserves-to-production...
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