10 Nov 2009

PNG's Somare will showcase PNG LNG Project at APEC

12:08 pm on 10 November 2009

Papua's New Guinea Prime Minister, Sir Michael Somare, will highlight the regional impact of the PNG LNG Project when the 21 APEC leaders meet in Singapore

The Asia Pacific Economic Conference forum meeting is discussing ways to stimulate global economic recovery.

Sir Michael says he's convinced the PNG LNG Project can play a significant role in stimulating regional trade and investment.

He believes the project has provided a big stimulus to PNG economy.

He says once project construction starts early next year this project will also stimulate investments in several APEC economies.

Much of the 15 billion US dollar LNG project budget will pay for equipment and services from abroad, including about half a million tonnes of steel pipelines and billions of dollars worth of materials for two LNG trains to be built near Port Moresby.