The Report contains 240 pages of reports, research, analysis and interviews with leaders in all of Papua New Guinea’s industries.Here is an economic snapshot from OBG:
An economic boom driven by a $19bn natural gas project was followed by a sharp slowdown as global energy prices fell, putting pressure on the government to spread more equitable development in this resource-rich country.
Energy: Revving Up
Natural gas production soared following the launch of the ExxonMobil-led PNG LNG project, adding a vital new revenue stream despite low energy prices.
Mining: Going Steady
Even as commodity prices have eased, production of metals has held mostly steady despite a drought that lowered river levels and limited access to some mines.
Construction: Downs and Ups
While employment has shrunk since the PNG LNG project finished in 2014, a government push to revamp ports and roads, plus a clutch of residential and commercial developments, should sustain the industry while a planned second gas project moves ahead.
Tourism: Richly Diverse
Rivalling the Amazon for biodiversity and home to one-sixth of the world’s languages, PNG has seen a steady rise in foreign tourist arrivals over the past decade.
