THE Petroleum and Energy Conference began this morning at the Hilton Hotel in Port Moresby and will run for two days.
The event brings together a wide range of experts and professionals to discuss energy-related issues and their impacts on Papua New Guinea.
A key focus of the conference is to explore how Papua New Guinea is regulating and promoting its energy sectors. The discussions aim to shed light on the country’s efforts to balance energy development with sustainability.
In his address, Prime Minister Hon. James Marape highlighted the threat posed by climate change to both the natural environment and communities across the Pacific region.
“Pacific have become existential threat because of the rising sea level and weather patterns,” PM Marape said.
He stressed the importance of such conferences, noting their role in fostering best practices to combat the climate crisis.
“I want to bring the spotlight on the production of heavy carbon-filled fossil fuels, especially coal. It is hard to believe that is this modern age of space travel and super speed technology, the world is still burning coal,” he said.
Marape pointed out that coal remains the largest source of electricity worldwide, with gas coming in second.
In the Asia Region where economic growth and high population have placed very high demands on energy consumption, the resilience on coal is the highest worldwide,” he added.
He also discussed Papua New Guinea’s stance to transition to clean energy, emphasizing the need for urgent action.
He highlighted renewable energy options such as hydro, geothermal, and solar, while noting that LNG will continue to play a role in the country’s energy landscape.
“This would become an appropriate response to the prioritizing the wellbeing of the natural resource and the country moving into the future,” he said.
“We invite investors and experts to explore and develop these resources, leveraging our strategic location closer to Asian markets. Our vast forest also provides a unique advantage, offsetting carbon footprints and making PNG an attractive destination for environmentally-conscious investments.”
He stated that LNG is just the first step in the country’s journey towards clean energy. With continued collaboration and investment, PNG will eventually shift towards a greener, more sustainable energy future.
