Expert highlights advanges to PNG's LNG Project

A LEADING gas and oil expert says that Papua New Guinea’s LNG Project has a number of advantages that the Government can be proud of.

Dr Fereidun Fesharaki commended Prime Minister Peter O’Neill for taking steps to ensure that the PNG LNG has a buyer in Japan, who is already encouraging that engagement.

"PNG needs smart marketing not traditional marketing – focused, well target with a special role for the PNG Government," he said yesterday.

"This market is a very, very tough market today," he added.

Dr Fesharaki is the founder and chairman of FGE, a leading consulting group focusing on the oil and gas markets in the Middle East, Europe and the US.

He was addressing the PNG Mining and Petroleum Conference in Port Moresby yesterday, speaking on challenges facing the LNG business.

"For PNG LNG there are a number of special advantages – you have large respectable resource base, physical stability, reputable operators, you have basically attractive advantage.

"So all of these things are positive, for everything, if you work on your own, our view is that they are all necessary, not quite sufficient, preventive work, something else is also needed.

"This is what I call smart marketing. And smart marketing in my view today means direct and active involvement of the PNG Government.
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