The share price of ASX-listed Oil Search stumbled on Thursday after the government of Papua New Guinea (PNG) sent a delegation to Singapore seeking to renegotiate the terms of the PNG liquefied natural gas (LNG) agreement, signed in April this year.
Minister for Petroleum Kerenga Kua said on Thursday that the agreement was signed by the previous PNG government, in a period when ‘serious moves’ were being made to remove and replace said government.