Photo: (C)2014 {Richard Dellman/AdvantagePNG}, all rights reserved
Analysis - Papua New Guinea's largest resource development has reached a milestone more than a decade in the making.
The PNG Liquefied Natural Gas (LNG) Project has fully retired its bank-financed project debt, closing one of the most complex financing arrangements in the country's economic history.
The debt, raised in the late 2000s to fund construction of onshore and offshore infrastructure, totalled about US$16 billion, including interest. Although liquefied natural gas exports began in 2014, repayments continued for more than a decade, limiting how much revenue flowed to equity holders, including the state through Kumul Petroleum Holdings, which holds a 19.4 per cent stake.
In December 2025, joint ventu
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