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[ClickPress, Tue Apr 26 2016] PNG is on course to become the third largest LNG exporter in the Asia-Pacific by 2019, supported by output from ExxonMobil's PNG LNG project and Total's Papua LNG project, which is expected to come online in the latter half of the decade. Longer-term upside risks to our forecasts remain, with a potential for a third standalone LNG project based off Horizon Oil's Stanley gas project.

The main trends and developments we highlight for Papua New Guinea's oil and gas sector are:

A significant ramp-up in its LNG exports, driven by the likes of PNG LNG and Papua LNG projects, is set to propel PNG to become the third largest LNG exporter in the Asia-Pacific by 2019, overtaking Indonesia and Brunei.

Despite underinvestment in oil developments, PNG's crude oil and liquids production will remain largely stable over 2016-2025, supported by associated condensates output from gas developments associated with large LNG export ventures.

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Independent gas certification process has begun at the Elk-Antelope gas field, marking yet another step forward in the field's gradual move towards a final investment decision (FID). Following the process, the Papua LNG JV plans to agree upon a final development concept for the project.

Improved production efficiency and utilisation rate at the Napa Napa refinery will see PNG remain a small net exporter of refined fuels over the next decade.

The government is stepping up efforts to attract investment in developing its domestic gas processing capability. This poses an upside risk to our gas consumption forecasts, as it will allow for greater gas use largely in the power sector.

The Papua New Guinea Oil & Gas Report has been researched at source and features BMI Research's independent forecasts for Papua New Guinea including major indicators for oil, gas and LNG, covering all major indicators including reserves, production, consumption, refining capacity, prices, export volumes and values. The report includes full analysis of industry trends and prospects, national and multinational companies and changes in the regulatory environment.

BMI's Papua New Guinea Oil & Gas Report provides professionals, consultancies, government departments, regulatory bodies and researchers with independent forecasts and competitive intelligence on the Papuan oil and gas industry.

Key Benefits
Benchmark BMI's independent oil and gas industry forecasts for Papua New Guinea to test consensus views - a key input for successful budgeting and strategic business planning in the Papuan oil and gas market.
Target business opportunities and risks in the Papuan oil and gas sector through reviews of latest industry trends, regulatory changes and major deals, projects and investments in Papua New Guinea.

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