Papua New Guinea Energy

Chapter | Energy from The Report: Papua New Guinea 2020

Papua New Guinea’s development has been driven by its resource wealth and, while policymakers are focused on long-term diversification, extractive industries still underpin the economy. Since his election, Prime Minister James Marape has made clear his intention to secure greater revenue for the government from future extractive projects, with the aim of nurturing economic growth and investing...

The economic downturn resulting from lower global commodity prices and the completion of the PNG LNG project means the future of Papua New Guinea must be navigated with care. The country possesses plentiful natural resources, which, given effective management, could provide new revenue to spur diversification, as well as sustainable and equitable growth in all provinces.

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In what ways has the Covid-19 pandemic impacted business operations in Papua New Guinea?

 

Papua New Guinea first started producing liquefied natural gas (LNG) in April 2014 when the flagship $19bn PNG LNG project came on-line months ahead of schedule. With the project exceeding export expectations, the focus has now shifted to two new projects, which would more than double the country’s LNG production capacity if they come to...

 

Papua New Guinea’s economic development has long been underpinned by its resource wealth, but a change in government in May 2019 has created fresh momentum for diversification. Since his election, Prime Minister James Marape has made clear his intention to secure greater revenue for the government from future extractive projects, with the aim...

 

What changes do you anticipate in regional demand for gold and copper when taking into account industrial activity growth in Asia?

 

Alongside the upstream energy sector, mining has long served as the backbone of Papua New Guinea’s economy. In 2019 the mining and quarrying sector accounted for 10.3% of GDP and was a major source of foreign exchange (forex) earnings, according to the IMF. Like the other extractive industries, mining has emerged as a priority for reform under...

Chapter | Mining from The Report: Papua New Guinea 2020

Alongside the upstream energy sector, mining has long served as the backbone of Papua New Guinea’s economy. In 2019 the mining and quarrying sector accounted for 10.3% of GDP and was a major source of foreign exchange earnings. Like the other extractive industries, mining has emerged as a priority for reform under the administration of Prime Minister James Marape. The country has significant...

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