PNG LNG Project on schedule

Despite a volatile political situation in PNG, Oil Search chairman Brian Horwood has been reassuring investors that the PNG LNG project remains on schedule – a project estimated at $15.7 billion and looking for expansion.

Last week, there was news that the QGLNG project’s has been clambering for more budget, (swollen by 36 per cent to US$20.4 billion), but it seems that these cost pressures we face in Australia hasn’t’ (yet) replicated itself in the PNG LNG venture.

With such a large scale investment (the largest one ever in PNG), there’s not much that seems to be holding back expansion. While on this topic, what other Asian LNG players are looking to get big? Malaysia? Vietnam?

Oil Search’s Colin Vissagio will be speaking at the LNG Outlook Australasia this year to talk about the future for PNG.

To enquire about partnership opportunities with the event or for more information, please contact Daniel Stephenson on +61 2 9021 8809 or email on daniel.stephenson@terrapinn.com