By:Miningweekly

Prime Minister James Marape has invited investors and experts to explore and develop the abundance of energy sources, including LNG, hydro, geothermal, and solar power resources in PNG.

“Our vast forests also provide a unique advantage, offsetting carbon footprints and making PNG an attractive destination for environmentally-conscious investments,” he said. ““As we work toward a cleaner energy future, research into cost-effective alternatives remain crucial.”

“However, we cannot delay transitioning to LNG and other renewable sources. We must act now to reduce our reliance on coal and heavy oil/fuels.

“To achieve this vision, collaboration is key. I urge governments, companies, and individuals to join forces and prioritize environmental stewardship.

“Together, we can create a sustainable energy landscape that benefits our nation, the region, the world, and our planet.”

The Prime Minister told the investors and experts at the Petroleum and Energy Conference today that PNG will be on the lookout for investors who want to participate in cleaner energy solutions.

“We always work with our investors offering incentives and protections so that their investment is secure. Some may be wondering about regime shifts but I want to assure you that whatever regime shifts we embark upon, one thing is certain and that is our provisions to protect our investors making a healthy return on their investments will always be protected.”

Marape urged all who gathered to switch off coal by opening more LNG as transitional energy and eventually move to the cleaner energy sources.

The two-day Petroleum and Energy Conference ends October 18, 2024.