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Papua New Guinea can still be successful in producing oil and gas well into the future, but it has to learn that it takes more than oil and gas reserves to create a viable and sustainable production industry. A review of its past successes should indicate what it needs to do.
Is Cargill investing in oil-palm plantations & mills in PNG?
Cargill is increasing its investment in oil-palm plantations and mills in PNG as well. Annual production of palm oil is about 300,000 tonnes or 1.4% of the global CPO production (Van Gelder 2002). The coconut oil industry is relatively small, approximately 50,000 tonnes per year.
What was the Papua New Guinea gas project?
The Papua New Guinea Gas Project, alias Papua New Guinea Gas to Queensland Project or Gas to Australia Project ended up with over 4,300 kilometres of trunk gas pipelines and lateral pipelines hanging off the Papua New Guinea gas sources.
Why is Papua New Guinea a good source of LNG?
PNG LNG has many factors in its favour as a distinct source for LNG for supply to East Asian markets. Papua New Guinea is a non-aligned Christian nation; it is not an Islamic nation. Papua New Guinea is desirous of investment and keen for development based on commercial oriented fiscal terms.