• PNG Business News

PM Says LNG Project is Moving in the Right Direction



After the signing of the fiscal stability agreement, Prime Minister James Marap said that the Papua LNG project is going in the right direction.

He gave confidence to the investors that PNG has an active democracy.

“We appreciate very much that this project has now been moved,” he said. “The Government will ensure that all necessary support is procured for this project to be moved as our project developer moves into the FEED phase. Our country is moving into exciting years ahead. Let me sound this out to our investors: Today is a testament to what democracy in PNG is all about, irrespective of the politics that is at play. Our economy is in a very vibrant democracy. Our rule of law prevails, our judiciary always presides over matters that are in conflict. Our country has not terminated any project agreement during the life of the contract.”

Apologising to investors that the government had caused them too much stress, he said, “The Government provides the social licensing, provides the security also. It needs to ensure that all ticks that need to be ticked are ticked, with respect to the laws that we have.”

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