The Papua New Guinea Electrification Partnership (PEP) is a $1.7bn aid programme financed and supported by Australia, Japan, New Zealand and the US that aims to connect 70% of PNG’s population to electricity by 2030. The international partnership was sealed during the November 2018 APEC Leaders’ Summit in Port Moresby, and is widely seen as an attempt by the US and its allies...
After a series of delays and missed deadlines, the government signed a deal with France’s Total, US-headquartered ExxonMobil and Papua New Guinea-based Oil Search in April 2019 for the development of a $13bn greenfield liquefied natural gas (LNG) project known as Papua LNG. The news was welcomed by foreign investors and marked a milestone for the country ‘s energy sector....
Although the world remains largely dependent upon fossil fuels for power generation, a gradual transition towards renewable sources has been taking place since the 1990s, underpinned by multilateral deals such as the Kyoto Protocol, the Doha Amendment and, more recently, the Paris Agreement. Investment and development in renewable technologies has historically been led by...
Although Papua New Guinea relies mostly on fuel oil and diesel to generate electricity, it holds an abundance of gas, geothermal, hydro and solar energy potential. If exploited sustainably, PNG could not only meet its domestic energy requirements, but also supply reliable, cost-competitive power to its neighbours. The extractives industry is the highest consumer of energy, at...
The mining industry is one of the main pillars of economic growth in Papua New Guinea. In 2017 the sector accounted for 29% of GDP and generated 86% of export revenue. Gold and copper account for the majority of mining export revenue, respectively comprising 76.8% and 13% of total sector exports in the first five months of 2019. The mining industry also remains an important...
The future of Wafi-Golpu, a major gold and copper mine in Morobe Province to be developed by South Africa-headquartered Harmony Gold and Australian-owned Newcrest, appears uncertain after the government of Papua New Guinea told investors it intends to seek further benefits. Sam Basil, the then-treasurer, announced in June 2019 that the negotiation with the two firms was on...
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