Political turmoil in Papua New Guinea (PNG) is likely to cause delays to the expansion of the ExxonMobil-led PNG LNG facility, warn analysts.
On Sunday PNG Prime Minister Peter O’Neil announced his resignation in favour of former two-time PM Sir Julius Chan.
“The resignation of O'Neill, while not totally unexpected, has the potential to delay progress in the PNG expansion project although we have high conviction the project will reach FID in 2020,” said Bernstein senior oil and gas analyst Neil Beveridge.
