More banks give $15b PNG gas project the cold shoulder

PNG, which has other LNG facilities, says the project is of 'national significance'. (Alan Porritt/AAP PHOTOS)

Another 12 banks have pledged not to provide financing for a proposed $15 billion liquefied natural gas project in Papua New Guinea, in which Australia's Santos is a major investor.

Fifteen banks and credit agencies, including Commonwealth Bank, ANZ, NAB and Westpac, had already committed not to finance the TotalEnergies-led gas project, which would be PNG's second-biggest.