PNG SET TO SECURE ABOUT 53% OF PAPUA LNG AGREEMENT PROJECT BENEFITS

BY RAYLEEN WANJIMAN

PRIME Minister James Marape says negotiations on the Papua LNG project are in their final stages, with Papua New Guinea expected to secure about 53 per cent of total project benefits.

Speaking today at the opening session of 2026 PNG Resources Week at APEC Haus, Marape dismissed claims that the government had delayed the project, saying the State had consistently supported its development while negotiating for better returns for the country.

He revealed the project’s estimated cost was reduced from about 18 billion US dollars to between 14 and 15 billion US dollars following a re-tendering process, making the development more commercially viable.

Prime Minister also said the government rejected requests for additional fiscal incentives, insisting on a fairer share of benefits for Papua New Guinea.

Prime Minister says only final details of the agreement remain to be settled, with Papua LNG expected to become one of the country’s next major resource developments.