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September 26, 2020
Business News

Japan Investment in PNG to Grow

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by Meriba Tulo – EM TV News, Port Moresby

With the growth in Papua New Guinea’s economy in recent times, countries are now looking to PNG as an ideal investment destination.

One country that is looking to increase its investments in PNG, is Japan.

Already a leading purchaser of PNG’s LNG exports, Japan is also looking to assist PNG enhance its position as an LNG exporter, by way of identifying suitable markets for PNG LNG exports, but more particularly through more downstream processing.

National Petroleum Company Papua New Guinea (NPCP), today signed a Memorandum of Understanding, with a leading Japanese LNG company to assist in marketing PNG’s LNG to the world.

Tomonori Mashita who signed the MOU on behalf of LNG Japan, also pledged the support of the company to NPCP, and the country’s LNG Exports.

Under the MOU, LNG Japan will assist NPCP in terms of Marketing for PNG’s LNG exports, as well as assist in the transportation of LNG cargo into identified markets.

NPCP Managing Director, Wapu Sonk, in signing the MOU, was excited at the prospect of working closely with LNG Japan in the coming years, particularly given LNG Japan’s outstanding history of LNG marketing, shipping and sales.

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