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Business trends

Chinese gas demand spurs new investments in Papua New Guinea

ExxonMobil and Total expected to commit $6bn to increase LNG export capacity

A tanker loads LNG at ExxonMobil's PNG LNG plant off Port Moresby. (Courtesy of Oil Search)

DENPASAR, Indonesia -- Strong growth in gas demand from China is set to trigger a new round of major investment in Papua New Guinea, which urgently needs a financial boost.

ExxonMobil of the U.S. and Total of France, two oil supermajors, along with Oil Search of Australia, are likely to give the go-ahead by next year for more than $6 billion-worth of additional liquefied natural gas export capacity in the resource-rich South Pacific nation.

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