Papua New Guinea government revises Papua LNG terms, increasing state equity
What happened
Prime Minister James Marape stated that the government is completing landowner and provincial government processes before the Papua LNG final investment decision on December 15. The government announced revised arrangements that increase Papua New Guinea's total participation in the project to 25 percent. Additionally, the domestic gas pricing formula was reduced from nine percent to five percent.
From thenational.com.pg
Why it matters
The revised arrangements provide additional benefits to eligible landowners and provincial governments by modifying PNG LNG royalty and development levy calculations. The government also plans to reduce the cost of domestic gas supplied for electricity generation.
From thenational.com.pg
Who's involved
- James MarapeLed government discussions regarding the Papua LNG project.
- governmentIs completing landowner and provincial government processes for the LNG project.
- Papua New GuineaIs the state whose equity and domestic gas pricing are being revised.
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- Papua New GuineaSpeculative
Could see increased revenue from the Papua LNG project due to the revised 25 percent state equity.
Possible ripples
Who this could reach next, traced step by step from the reporting. Possibilities worth considering, not forecasts.Keep exploring
The entities involved
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James Marape
Papua New Guinea politician
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government
system or group of people governing an organized community, often a state