The United States, Japan and Australia have plans to lend more than $1 billion for a liquefied natural gas (LNG) project in Papua New Guinea.
The investors include Japan Bank for International Cooperation (JBIC); the U.S. Overseas Private Investment Corp. (OPIC); and Australia’s Export Finance and Insurance Corp. (EFIC).
Plans for the LNG plant will be finalized over the next two to three years.
It would be the first expenditure in the trilateral initiative announced in August last year in a speech by U.S. Secretary of State Mike Pompeo.
