PORT MORESBY: PNGCORE President and PNG Investment Week Convenor Anthony Smaré has congratulated the Marape-Rosso Government, the leaders of Gulf and Central provinces and the Papua LNG joint venture partners for bringing the US$14.5 billion Papua LNG project to the point where it is on track for a Final Investment Decision (FID) by 15 December 2026.
“I want to congratulate Prime Minister Hon. James Marape, Petroleum Minister Hon. Jimmy Maladina and the State Negotiating Team, together with Gulf Governor Sir Christopher Haiveta, Acting Gulf Governor Hon. Morris Taudevin, Hon. Soroi Eoe, Hon. Thomas Opa, Central Governor Hon. Rufina Peter, Hon. Keith Iduhu and Hon. Peter Isoaimo, for their leadership and persistence in bringing Papua LNG this far. Many thought this project would never get over the line. The Government has stuck with it, negotiated a balanced agreement that protects PNG’s interests while keeping the project viable, and passed the legislation it needs with the unanimous support of Parliament. Well done,” Mr Smaré said.
Photo credits: PIW25 AFR Archives
Mr Smaré also acknowledged the landowners and communities of Gulf and Central provinces, whose agreement through the Development Forum cleared one of the most important steps to FID, and the joint venture partners led by new operator ExxonMobil and ExxonMobil PNG Chairman and Managing Director Dinesh Sivasamboo, together with TotalEnergies, Santos, ENEOS Xplora, Kumul Petroleum Holdings and MRDC for working closely with the State.
“ExxonMobil taking over as operator, alongside the PNG LNG plant it already runs at Caution Bay, gives everyone great confidence. Dinesh and his team have delivered one of the world’s best-performing LNG projects in PNG, and they are the right people to deliver the next one,” he said.
On track for FID by 15 December
Mr Smaré said everything now points to FID by 15 December, which will allow PNG to build on its reputation as a stable and reliable supplier of LNG to Asian markets.
“The instability in the Strait of Hormuz this year has reminded the world’s energy buyers how much they value secure supply. PNG ships to Asia without passing through any chokepoint, and PNG LNG has delivered reliably for more than a decade. Papua LNG lets us meet the growing demand from our customers and lock in PNG’s place as a trusted supplier for the long term. That is why getting to FID on time matters so much,” he said.
Strong international interest in PNG Investment Week
Mr Smaré said the progress on Papua LNG had triggered a noticeable increase in interest in PNG Investment Week, to be held from 29 November to 2 December 2026 at ICC Sydney.
“We are seeing strong new interest from international LNG buyers, and from engineering, technical and service companies that want to understand how they can support Papua LNG and the raft of projects that will follow it – P’nyang, Pasca, Muruk, Wildebeest, Wafi-Golpu and others. Many of them are specifically looking for PNG partners, suppliers and landowner companies to work with,” he said.
Papua LNG will feature in a dedicated session at the PNG Resources Investment Summit on Tuesday 1 December, alongside updates from PNG’s major resource and energy projects.
Photo credits: PIW25 AFR Archives
