LNG

PNG halts gas project approvals ahead of policy overhaul

The reforms being proposed to PNG’s gas policy would not be retroactively applied, but experts say they will slow progress on existing projects anyway The reforms being proposed to PNG’s gas policy would not be retroactively applied, but experts say they will slow progress on existing projects anyway.
By Sally Bogle 29 March 2018 0 30215
Oil Search facilities in Papua New Guinea. (Oil Search)

Papua New Guinea has introduced a freeze on new gas developments while it pushes through reforms to its national gas policy, a move that could affect how swiftly ExxonMobil and Total can expand their LNG facilities to meet an anticipated upswing in demand in Asia in the middle of the next decade. 

Announced by Petroleum Minister Fabian Pok last week, the white paper proposes a number of policy changes designed to “support PNG’s ongoing economic development”, Pok said. 

“As our country transitions to these new policy settings,...