1 Jul 2010

Australia Minister sees huge potential for PNG in gas project

7:13 pm on 1 July 2010

Australia's Foreign Affairs and Trade Minister, Stephen Smith, says the ExxonMobil gas project in Papua New Guinea has the potential to put that country on the path to economic sustainability.

Mr Smith has met the PNG Public Enterprises Minister, Arthur Somare, in Melbourne.

He says the project is vital to PNG's economic well-being, with the potential to put it on a sustainable economic growth path.

Mr Smith says Australia is working closely with PNG, providing technical and advisory support as it establishes sovereign wealth funds.