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Imo, this is the hole I saw in the PNG jurisdiction over their LNG situation, as well as other situations. They now, if called for, influence dealings by SM's not necessarily viewed as their best choice to develop PNG resources. imo, this theoretically could block a corporate takeover without their govt blessings. Just my opinion. But I see it as flexible depending on PNG views....they can influence consolidations to their advantage , or joint advantage. That's basically what I see going on now and IOC has cooperated in a win win way.
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Even though the law may not specifically apply in a given circumstance, it can still be used as a basis to apply pressure on parties to a transaction to achieve goals favorable to PNG.
Probably not necessary, but just another tool for the PNG government.
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Agree. As mentioned prior, this is not an unusual law used by many nations to protect "national interests" such as natural resources. Just like tariffs, taxes, import quotas, anti-dumping legislation, subsidies, etc are used to protect markets and economies, a law such as this helps nations keep as much control as possible. When necessary.
