Chamber hails project signing

All partners in the P’nyang project should be commended for their commitment in ensuring negotiations were resurrected, the PNG Chamber of Mines and Petroleum says.
The gas agreement was signed on Tuesday between project developer ExxonMobil PNG and the State.
Other project partners are Santos and JX Nippon.
Chamber president Anthony Smaré said the project would deliver gas and condensate through new upstream facilities in Western linked to world-class PNG LNG plant near Port Moresby.
“All of the partners in the project, led by ExxonMobil PNG, must be commended for their steadfast commitment to ensuring negotiations on this project were resurrected, and now seen to fruition with this signing,” Smare said.
“The world is moving quickly under a new net-zero paradigm, and thus if we do not bring these projects on stream responsibly and expeditiously, then as a country, we may lose that opportunity, and with that associated benefits and revenues in the form of taxation revenue, job and training opportunities, state company revenues, landowner revenues and benefits, and business opportunities for Papua New Guinean entrepreneurs and SMEs,” Smare said.
“It was important that P’nyang, Papua LNG, Wafi and Porgera are progressed in a responsible and expedient manner to significantly boost the economy to help our country overcome recent economic challenges.
“This announcement will improve investment confidence in Papua New Guinea internationally.”