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She highlighted that the event is particularly important as it precedes the 50th anniversary of each the country’s forex and the nation itself. Governor Genia also launched the Bank’s Vision 2050, launched in line with the anniversary celebrations. Shells, notably the Kina and Toea, were not solely mediums of trade but in addition symbols of wealth, social status, and cultural practices. “Deeply embedded in our traditions and cultural practices, shell money also represented social status, and it was used in marriages, deaths, and other important ceremonies and occasions,” Genia explained.

Santos Managing Director and Chief Executive Officer Kevin Gallagher said the contract with TotalEnergies marks a new LNG relationship for Santos, building on its current three means partnership partnerships. “This oil-indexed contract, together with the just lately executed long-term LNG Sales and Purchase Agreement with Hokkaido Gas in Japan and the mid-term contract with Glencore, demonstrates Santos’ sturdy LNG portfolio position and customer relationships in the area. Our portfolio is well-balanced over the short to medium term, with around eighty p.c of volumes listed to grease costs and about twenty % uncovered to identify pricing,” Gallagher stated. “There continues to be extremely strong demand in Asia for high-heating-value LNG from tasks similar to Barossa and PNG LNG, as international locations focus on lowering their carbon emissions. Santos is committed to supporting the power security of our valued clients across Asia, where gas will play a vital role in decarbonisation efforts throughout the region,” Gallagher added. The Bank of Papua New Guinea formally launched the Kina and Toea Exhibition, a display celebrating the nation’s rich economic history and the 50th anniversary of Papua New Guinea’s forex.

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