The reserve estimate for natural gas in Papua New Guinea is 84 percent higher than first thought, warranting a significant expansion, Exxon Mobil said. Exxon said the reserve estimate at its P’nyang field in the country is around 4.3 trillion cubic feet of natural gas, an 84 percent increase from a 2012 assessment. “The increase supports a potential significant expansion of operations in the country,” a company statement read. Exxon is already working with the government of Papua New Guinea on plans to develop the gas discovered in the P’nyang field, situated in the country’s Western Province, in liquid form. Papua New Guinea is positioned well to take advantage of the growing energy demands from economies in the Asia-Pacific region. […]