The Papua New Guinea-based company, Oil Search, is proposing a deal in which they could supply gas to New Zealand.
Representatives of the company have met with the leader of the New Zealand trade mission, Luamanuvao Winnie Laban, to present their proposal.
The PNG minister for petroleum and mining, Sir Moi Avei, who also met with Luamanuvao, says his government is facilitating the project.
"We established a bilateral framework in which we can both sides put up both ends to fasttrack this commercial project but the key factor is whether it is commercially viable for all sides. Are they going to make money? Will they be able to penetrate the New Zealand market and that depends. If the price is right, obviously they will penetrate but they have to do their sums first."
Sir Moi Avei.
Luamanuvao has now arrived in Guam and will meet the governor, Felix Camacho, later today.