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Papua New Guinea a warning for poor nations rich in natural resources

Developing countries often do not profit from wealth lying under the ground

| Papua New Guinea
A LNG carrier is docked at the ExxonMobil PNG operated plant at Caution Bay, Papua New Guinea in November 2018: the local people have seen very little of the promised benefits.   © Reuters

Amit Jain is a Singapore-based consultant who helps clients navigate frontier markets and fragile states. He provides technical assistance and transaction advice on upstream projects.

French oil major Total is at the final stages of settling the terms for the country's second major natural gas development, the proposed $13 billion Papua Liquefied Natural Gas project that will double the country's gas export capacity.

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