Gas project attack ‘fake news’: PNG PM

PORT MORESBY – Papua New Guinea’s prime minister has dismissed as “fake news” a report that claims a partially-Australian funded liquefied natural gas project is failing to deliver a promised economic boom to his people.

Peter O’Neill is in Brisbane for the Australian-PNG business forum and used a keynote speech to attack a damning report by Jubilee Australia which questioned whether projected economic benefits were flowing from the ExxonMobil-led project.

The project supplies eight million tonnes of gas a year to Japan, South Korea and China, with the flow starting in 2014.

Australia’s export credit agency Efic made it’s largest-ever loan of $500 million to ExxonMobil, Oil Search, Santos and the PNG government in 2009.  PACNEWS