As liquefied natural gas (LNG) markets mature, trying to establish itself against decades of crude oil dominance, developments far removed from most of the action are taking unusual turns that could in time impact the entire LNG value chain. Until recently, tiny Papua New Guinea (PNG) was the envy of the world’s LNG producers. Not only did its PNG LNG export project come online without much delay but it also avoided the quandary, affecting nearby Australia whose LNG development has been marred by budget over runs running into the billions, continual project start delays and industry troubling feuds between worker groups and project developers. PNG LNG project loses its shine The ExxonMobil-led $19 billion PNG project came online in mid-2014 and started shipping LNG to markets in the Asia-Pacific region, which accounts for 72 percent of all global LNG demand. By 2017, the project was producing some 8.3 million […]