The EITI is the global standard for promoting
transparency and accountability in countries rich in oil, gas
and mineral resources. The initiative emerged as a means
to mitigate the outcomes of low per capita growth, slow progress
on human development, and social and political instability
common to resource rich developing countries.
EITI is a Government led initiative with
active support from companies, civil society groups, investors
and international organizations. The initiative provides a
platform for stakeholders to systematically review, assess, and
report on what is being paid by companies and received by
governments from extractive industry operations. This is
accompanied through the establishment of an EITI
multi-stakeholder steering committee or group (MSG) that is led
Key functions of the MSG include setting
strategic direction of the initiative, defining the reporting
scope of the initiative in each country, developing the national
EITI work plan, and conducting the reconciliation process.
Discussion on the
establishment of the PNGEITI started in 2006 as a result of the
PNG Gas Project.
MULTI-STAKEHOLDER GROUP MOU
The MOU was entered into by the Government of PNG, Civil Society Organizations of PNG, and mining and petroleum companies in PNG
on the 1st of November 2013 in Port Moresby, Papua New Guinea.