Latest news in Papua New Guinea? September 18th, 2026
18-09-2026
Key news developments in Papua New Guinea for September 18, 2026:
Papua LNG Moves Toward Final Investment Decision (FID): Prime Minister James Marape confirmed that the Papua LNG project is entering a critical phase heading toward its targeted December 15, 2026 FID. Newly appointed Vice-Minister for Petroleum Gidron Maso Karipe was sworn in to assist in resolving outstanding landowner and provincial agreements. Revised arrangements feature an increased potential state equity of up to 25% and reduced domestic gas pricing formulas.
PNG Haus Bung+ 1Economic Outlook and Central Bank Policy: The Bank of Papua New Guinea (BPNG) kept the Kina Facility Rate steady at 5.0%. Growth projections for 2026 remain positive (forecasted between 3.5% and 4.6%), supported by strong commodity exports and higher gold revenues, alongside supplementary budget measures addressing retail fuel price support and drought relief.
Westpac IQPost-Independence Celebrations and Development Plans: Following the nation’s 51st Independence Anniversary on September 16, provincial governments launched key initiatives, including New Ireland’s updated Provincial Disaster Plan and Integrated Development Plan.
Regional Bougainville Representation: Parliamentary leaders from the Autonomous Region of Bougainville attended the Pacific Islands Parliamentary Assembly (PIPA) meeting in Tahiti after Bougainville was granted observer status, alongside ongoing domestic consultations regarding the referendum timeline.
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