final investment decision

Second LNG likely to improve economy

Bank of South Pacific CEO, Robin Fleming, says the country’s economy is expected to face another 12 to 18 month slump. However, there is recognition by the business community that an improvement will be witnessed once the second LNG Train project is confirmed.

He said this was the general consensus following a shareholder board meeting in Lae last month.

Fleming said there remains a higher level of confidence in the project moving ahead by the end of 2018, following announcements during the recent inaugural Petroleum and Energy Summit in Port Moresby,