Image: Angus Rodger, Mackenzie’s Asia-Pacific Upstream Research Director speaking at the 2017 Petroleum & Energy Summit in Port Moresby
Industry experts say the Papua LNG is competitive on the world stage.
It was still a full room on day two of the Petroleum and Energy Summit, mainly attributed to the important topics of discussion.
Global energy, chemicals, renewables, metals and mining, research and consultancy group, Mackenzie Wood’s Asia-Pacific Upstream Research Director, Angus Rodger, said there is no guarantee that the world will need more LNG from any one country.
But there is good news for PNG. Yesterday Prime Minister, Peter O’Neill, said the government will continue to assist in ensuring there is further development of the vast petroleum and gas resources in the country.
Mr.Rodger said PNG occupies a sweet spot in a major portfolio.
He added that there is huge potential during the years 2023 to 2024, where global LNG demands have been forecast to reach new highs.
However, forecast also shows that many new players will also emerge during that time. His advice is that PNG should continue to maintain its competitiveness.