Papua New Guinea News

23 Oct 2019

Searcher Completes Northern Basins Study

Map: Searcher Seismic

Searcher Seismic announced the expansion of its modern offshore data library with the completion of its Northern Basins Prospectivity Study in Papua New Guinea.The independent multi-client company providing seismic datasets and associated products to the global oil and gas industry, said that in conjunction with Discover Geoscience, it has compiled the Northern Basins Prospectivity Study following its successful acquisition of the Solomon Sea Broadband Non-Exclusive 2D seismic…

21 Oct 2019

46 Countries Support Torremolinos Declaration

Pic: International Maritime Organization (IMO)

The Cook Islands and Sao Tome and Principe have become the latest States to become Party to the Cape Town Agreement on fishing vessel safety.These small nations deposited their instruments of accession during the Torremolinos Ministerial Conference on Fishing Vessel Safety and Illegal, Unreported and Unregulated (IUU) Fishing (21-23 October).At the same time, they joined 44 other countries (46 in total) signing the Torremolinos Declaration, a non-legally binding political instrument.By signing the Declaration…

16 Oct 2019

ITF Expands into Asia Pacific

Photo: ITF

The International Transport Workers' Federation (ITF) has established its latest Contacts Network, covering Bangladesh, Cambodia, Malaysia, Myanmar, Pakistan, Papua New Guinea, the Solomon Islands and Thailand.ITF has seen a significant increase in seafarers requesting assistance from countries without an inspector or contact, in recent years.Attempting to resolve these requests is often challenging due to several factors, including the local political context and the effectiveness…

09 Sep 2019

Green Light for Papua LNG JV

Pic: High Arctic Energy Services

Canadian oil and gas company High Arctic Energy Services said that  the Government of Papua New Guinea (PNG) has validated the Papua LNG Gas Agreement.According to a statement, the announced validation by the Petroleum Minister includes new good faith concessions offered by the operator for the Papua LNG joint venture. The concessions include preparing a detailed National Content Plan, third party pipeline access, possible state participation in pipeline ownership as well as LNG transport tankers.Mike Maguire…

14 Aug 2019

ICTSI Posts Strong H1

Hijo International Port Services, Inc., Philippines. Photo: ICTSI

Philippines-based international container terminal operator ICTSI has reported a massive increase in profit and a substantial increase in revenues for the first half of 2019.First half throughput rose 7% to 5.04 million teu and came on good revenues, leading to a 42% jump in net profit to $128.5 million, said a press release from the global port management company.ICTSI attributed its profit growth during the six-month period to  volume growth, tariff adjustments for certain services at multiple terminals…

12 Aug 2019

ICTSI Sells Stake in Motukea Port

Image: ICTSI

International Container Terminal Services, Inc. (ICTSI) is selling its 30% stake in a company that operates the Motukea Port, Papua New Guinea.According to a stock exchange announcement, ICTSI South Pacific Ltd, a subsidiary of ICTSI, has entered into agreements with Noho-Mage Holdings Ltd. for the latter to acquire a minority stake in Motukea International Terminal Ltd. (MITL).MIT is the sole facility in Port Moresby which can handle international containers. Ro/Ro and break…

02 Jul 2019

GloFouling Gets Going in Pacific

Pics: International Maritime Organization (IMO)

The initial phase of the Glofouling Partnerships project is now well and truly underway with a series of technical workshops in the Pacific, stated  International Maritime Organization (IMO).The UN body said that the key message delivered to participants was that once introduced, marine invasive species can be hard to eradicate - and invasive species represent a potential major threat to the Pacific Ocean's biodiversity and the ecological integrity of Small Island Developing States.The…

04 Jun 2019

Australia to be World's Largest LNG Exporter

Graph: Rystad Energy

Australia is all set to become the world’s largest producer of liquefied natural gas (LNG) next year and to retain that position until 2024, when Qatar will reclaim the top spot, said a report by Rystad Energy'“Australia has no intention of relinquishing its hard-earned LNG crown without a fight. Over the next two years, pending approvals on up to seven Australian integrated LNG projects could challenge Qatar as the country with the largest sanctioned LNG volumes from integrated projects during that period…

24 May 2019

Teaching Teenagers About Oil Spill Issues

Pic: International Maritime Organization (IMO)

Discussions on oil pollution prevention, preparedness and response took centre stage this week (20-24 May) at the latest edition of Spillcon 2019 in Perth, Australia.The forum included sessions on cause and prevention, response management and environmental issues.A raft of high calibre national and international speakers addressed the conference on their particular areas of expertise. However, this year, the audience also invited 12 to 15 years olds to join the event to learn more about issues related to environmental protection, oil and chemical pollution, preparedness and response.

23 May 2019

Race Against WW II Shipwrecks Oil Spill

Image: MV Ocean Recovery

A remediation programme to protect island ecosystems from damage caused by oil pollution from World War II wrecks sunk in the Pacific Ocean will launch in Newcastle Harbour today (Thursday 23 May).The programme is the result of a partnership between Major Projects Foundation, the Secretariat of the Pacific Regional Environment Programme (SPREP) – an intergovernmental Pacific regional organisation made up of 26 members – and the University of Newcastle. It will see expert teams of scientists…

16 May 2019

Trade War Puts LNG Projects at Risk

Graph: Rystad Energy

The escalation of the trade war between the US and China could jeopardize several LNG mega projects that are awaiting final approval, said Rystad Energy.China announced on Monday that it will raise the duty on imports of US liquefied natural gas (LNG) to 25% from the previous level of 10% in retaliation to the US increasing its tariffs on $200 billion worth of Chinese goods.Rystad Energy forecasts that Chinese LNG demand will reach 95 million tonnes per annum (tpa) in 2025, up from 53 million tpa in 2018.

03 May 2019

Global LNG Imports Up in Q1 by 11%

Pic: GasLog Ltd

Despite the liquefied natural gas (LNG) demand in the first quarter of 2019 being negatively impacted by warmer than usual weather in the Northern Hemisphere winter, global LNG imports during the period totalled 88 million tonnes (mt), compared to 79 mt in the first quarter of 2018, or an increase of 11%, GasLog said quoting Poten.In particular, China’s LNG imports totalled 15.3 mt, 24% higher than the first quarter of 2018.Europe’s LNG imports in the first quarter more than doubled to 22 mt…

11 Apr 2019

Total, Exxon Sign for Papua New Guinea LNG Project

Map: Total

French energy giant Total and its partners ExxonMobil and Oil Search have signed the Gas Agreement with the Independent State of Papua New Guinea defining the fiscal framework for the Papua LNG Project.The Papua LNG project Gas Agreement allows the partners to enter the Front-End Engineering Design (FEED) phase of study that will lead to the Final Investment Decision in 2020.“The finalization of the Gas Agreement is a major milestone for Papua LNG project that confirms the commitment of all partners and the Government of Papua New Guinea to make the project a success for all stakeholders”…

01 Mar 2019

Searcher Seismic Acquires Triok

Image: Searcher Seismic

Searcher Seismic, in cooperation with BGP, has completed the acquisition of the Triok broadband non-exclusive 2D seismic survey in the Northern Basins of Papua New Guinea.Following the acquisition of the Solomon Sea non-exclusive 2D in the northern basins of Papua New Guinea, the Triok broadband non-exclusive 2D seismic survey consists of 3,845 km (2,389 mi) of 2D long-offset, high-resolution, broadband seismic and offers regional coverage of the Cape Vogel basin and Huon Gulf.Andrew Weller…

10 Dec 2018

MOL LNG Carrier Rescues Castaway

Rescued castaway, and area where rescue took place. Pic: MOL

Japan’s Mitsui O.S.K. Lines (MOL) revealed that its liquefied natural gas (LNG) carrier LNG Fukurokuju has safely rescued a castaway  330km off New Ireland, Papua New Guinea.According to MOL, the crew onboard the 165,134-cbm LNG Fukurokuju, while underway northeast of New Ireland, Papua New Guinea, spotted a castaway who was calling for help at 16:30 (all times in local time) on November 26."The vessel immediately started rescue activities, and rescued him at 18:30 on the same day…

05 Dec 2018

India Plans Deep Dive for Seabed Minerals

© Mykola Mazuryk / Adobe Stock

In the 1870 Jules Verne classic "20,000 Leagues Under the Sea", underwater explorer Captain Nemo predicted the mining of the ocean floor's mineral bounty - zinc, iron, silver and gold.India is catching up with that only now, as it prepares to unearth treasures down below, aiming to boost its economy.The floor of the world's seas is scattered with vast beds of black potato-shaped polymetallic nodules comprising copper, nickel, cobalt, manganese, iron and rare earth elements.These natural goodies are key to making modern gadgets…

03 Dec 2018

Nautilus Minerals to Acquire Production Support Vessel

Image: MAC Goliath Pte Ltd

The underwater mineral exploration company headquartered in Toronto Nautilus Minerals Inc. is currently negotiating the terms of an agreement with arm's length third parties that would involve the creation of a new joint venture company - Vessel JV - to be owned by the third parties and Nautilus’ subsidiary, Nautilus Minerals Niugini Limited (NMN).The purpose of the Vessel JV would be to fund the acquisition of the Production Support Vessel (PSV) that Nautilus had previously arranged…

28 Nov 2018

LNG Shipping Market in Recovery Stage: Flex LNG

Image: Flex LNG

Norwegian-born billionaire John Fredriksen-owned LNG shipper Flex LNG believes that the LNG market is in the early stages of a multi-year recovery.According to a report by Flex LNG, the market for seaborne transportation of LNG has improved significantly during the third quarter with the primary driver being the nearly 50 per cent year on year growth in imports to China.Additionally there is high demand growth in other more mature markets such as South Korea and Taiwan.Flex LNG pointed out that Bloomberg New Energy Finance estimate demand growth of approximately 8.5% in 2018…

27 Nov 2018

IMO Provides Fellowships for Women in Ports

Pic: International Maritime Organization (IMO)

International Maritime Organization (IMO)  has provided fellowships to ten female officials attending a Port Senior Management Programme held at the Galilee International Management Institute (GIMI) in Nahalal, Israel, (14 -27 November). "A successful and well-run port contributes to the sustainable economic development of its region. But what is also an economic no-brainer is female empowerment. We provide fellowship to address both these points," said a statement from IMO.The two-week course provides participants with key information and updates on innovations in the port industry.

27 Nov 2018

Inside the LNG Shipbuilding Boom

BP Shipping took delivery of British Partner, the first of a half dozen new 173,400 cu. m. capacity liquefied natural gas (LNG) carriers to be delivered through 2018 and 2019 from the DSME shipyard in South Korea. (Photo: BP Shipping)

South Korean shipyards have seemingly boxed out rivals from the market for building large ships carrying liquefied natural gas (LNG), winning all of the orders for the next three years worth more than $9 billion.Three South Korean yards - Daewoo Shipbuilding & Marine Engineering (DSME), Hyundai Heavy Industries and Samsung Heavy Industries - have won the more than 50 orders placed for new large-scale LNG tankers for delivery in the next three years, according to data from the…

20 Nov 2018

Total Signs MoU on LNG Project

Image: Total

Total and its partners ExxonMobil and Oil Search have signed a Memorandum of Understanding (MoU) with the Independent State of Papua New Guinea defining the key terms of the Gas Agreement for the Papua LNG Project.According to a press release from Total the MoU was signed in Port Moresby, in presence of Peter O’Neill, Prime Minister of Papua New Guinea, and Patrick Pouyanné, Chairman and CEO of Total. The proposed Gas Agreement is expected to be finalized by Q1 2019.Total is the operator of the Elk and Antelope onshore fields and is the largest shareholder in PRL-15 with a 31.1% interest…

30 Sep 2018

Tim Kelly is the New CEO of Adriatic LNG

Tim Kelly. Photo: Adriatic LNG

Tim Kelly has replaced Suresh Jagadesan as the Managing Director of Adriatic LNG, which operates the regasification terminal located offshore from the Veneto coast.Before joining Adriatic LNG, Tim worked as the Marine Operations Manager at ExxonMobil’s gas liquefaction plant in Papua New Guinea.Tim has almost 40 years’ experience in the marine and Oil&gas sectors, starting his career in the Merchant navy. After joining ExxonMobil, he held positions of increasing responsibility…

14 Aug 2018

China Navigation Company Opens Vancouver Branch

CNCo Vancouver opening ceremony. From left: Graham Clarke, Founding Chairman, VIMC;  Bruce Ralston, Minister of Jobs, Trade & Technology, British Columbia; Chris Daniells, Commercial Director, CNCo; Bernard Huizenga, General Manager, Corporate Business Development, CNCo Americas. Photo: CNCo

China Navigation Company (CNCo), part of the Swire Group, has expanded its presence in North America by establishing a branch office in Vancouver, Canada.The opening ceremony was graced by Bruce Ralston, Minister of Jobs, Trade & Technology, British Columbia, who unveiled a plaque in the CNCo office located at W Hastings Street.Minister Bruce Ralston said, “The Province recognises the significant contribution that The China Navigation Company makes to the shipping industry worldwide.

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