The quake was initially reported as being a 7.1, but the US Geological Survey has since revised its magnitude downwards.
The USGS says the quake struck at a depth of 15 kilometres, and was located 20 kilometres east of Taron on New Ireland, at 3:40am PNG Time (1740 UTC).
The Pacific Tsunami Warning Centre said that a Pacific regional tsunami was not expected.
This comes as PNG's Highlands region feels significant ongoing aftershocks from a 7.5 earthquake eleven days ago. At least one hundred people are reported to have been killed as a result of this.
Unlike last week's Highlands quake, which killed at least one hundred people, today's quake comes in an an area known for seismic volatility.
Two other quakes registering around 7 have been recorded there in the past 15 months.