LNG to double PNG income, now for good governance

Canadian oil company InterOil Antelope 1 liquefied natural gas (LNG) site is seen in the Gulf Province of Papua New Guinea. The massive LNG project has set a world output record rate of 383 million cubic feet per day of gas with 5,000 barrels of condensate, making it the largest LNG reservoir in the Southern Hemisphere.

Author: Matthew Morris, ANU

The first 50 days of Papua New Guinea’s O’Neill-Namah government have seen reforms take off, including decisive action being taken to tackle corruption, public enterprises being cleaned up, and an 800 million kina (US$362 million) supplementary budget passed focusing on free education and infrastructure.

The next nine months provide an opportunity to put the economic foundations in place for better management of the mineral boom. Read more…