Marape said Papua New Guinea was transparent and that when he visited Beijing with ministers this year, “there were no security conversations.”
“We kept them in the economic realm and worked with our traditional security partners on security,” he told a resource investment conference in Sydney.
“The two are complementary. The US is about external security, and Australia is about internal security.”
Solomon Islands hosts Pacific Games with Chinese funding amid conflict between major powers
Solomon Islands hosts Pacific Games with Chinese funding amid conflict between major powers
Marape said improved safety is important for foreign investors.
PNG’s exports are dominated by resources and energy, including liquefied natural gas.
Marape said he did not want to be lectured about climate change and said countries with the highest carbon emissions and affluent lifestyles needed to take the lead in reducing emissions.
“My country is in the oil and gas business. Fortunately, we are blessed with large forests and oceans,” he said.
Mr Marape said 70 per cent of Papua New Guinea is covered by forest, making it a “carbon negative” country, offering a green label to energy investors.
An executive at Papua New Guinea’s state-owned oil company said on Monday it was in advanced talks with Chinese banks to help finance two large-scale liquefied natural gas (LNG) projects in the country.
Kumul Oil is in talks with banks in the US, Europe and Australia, but talks with China are “mature”, company managing director Wap Sonku said at the Papua New Guinea Resources and Energy Conference in Sydney. mentioned in.
“Most of the financing discussions are with Chinese-backed banks because they have different views on ESG (environmental, social and corporate governance),” he said. Stated. “It has progressed to a mature stage.”