Investors from Asia urged to consider investing in Papua New Guinea

ExxonMobil PNG Limited, operator of the PNG LNG Project, is upbeat and confidence about the investment opportunities in the country and has called on investors in Asia to consider PNG as a destination.

ExxonMobil PNG chairperson and managing director Tera Shandro told the participants at the PNG-Asia Investment Conference in Hong Kong this week that there should be increased investment in PNG.

“ExxonMobil, as an investor with more than a century, of experience, we can speak directly to what the country and its people have to offer towards building a thriving business,” she said.

“The PNG LNG Project remains the largest single business investment in PNG’s history and has launched a new industry and helped the country grow its reputation in Asia as a trusted and efficient energy supplier.

“Since production started in 2014, it has also delivered more than K22 billion to the State and its landowners. With the support of stakeholders including the Government, our venture partners, landowners, landowner companies and local businesses we have not only developed PNG’s foundation, LNG project, but a robust pipeline of potential future investments.

ExxonMobil’s outlook for energy predicts that by 2050 the global population will increase by 25 per cent, and natural gas will play a critical role thanks to its abundance, low cost, and low carbon emissions.

Shandro said Asian markets were expected to remain the core natural gas customers that would continue to turn to PNG for decades to come because of its geographical location, high-quality resources and efficient operating facilities.

Statement/TheNational/Pacific Business News

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