Business PNG features the 2nd PNG Petroleum and Energy summit in Port Moresby.
Stakeholders from the extractive industry gathered for the 2-day summit to discuss the challenges they collectively share, the future of the industry as well as relief efforts for the recently devastated areas affected by the earthquake.
In this episode, Leanne Jorari seats down with the major players, such as Exxon Mobil’s Andrew Barry, Oil Search’s Peter Botten and Kumul Petroleum’s Wapu Sonk.
According to industry experts, the LNG market will face more hiccups before it gets better but the outlook is quite bright in the medium to long term. By 2022-2023, the market will begin having shortages and the new FIDs will not come in time to fill the gap however new LNG supplies will come at an opportune time in the market.