PNG Government keen on maintaining energy sector

Business representatives have been told of the importance of PNG’s participation in the global energy market.
Prime Minister Hon. Peter O’Neill highlighted the importance of forward thinking in the nation’s participation. "As an LNG exporting nation, we also accept that there are global factors which are beyond our control.
"We need, as a country, to adjust to the impact of low world energy prices, which is a factor that is going to continue to have some effect on our economy in the long-term. "But despite low energy prices, we are working closely with industry in ensuring that we continue to maintain the momentum in the development of the LNG projects in the country.
"We are working closely with ExxonMobil, our managing partner of the first LNG project, in ensuring that we deliver a third train in the current project. We have just recently made an announcement of the establishment of a team that is going to work through the issues on the P’nyang fields which will enable the third train for this project.
We are also happy with the resolution of the arbitration that took place between Oil Search and Total SA in the development of the Elk-Antelope resource in the Gulf Province.
"Our government is very focused, we have encouraged Total SA to enter into a program of work that will ensure we deliver this project to Papua New Guinea. "We’re encouraged by their commitment, and to date they have given us a firm commitment.