P’Nyang Gas Agreement signing expected before 2020
The P'Nyang Gas Agreement is due to be signed at the end of this month, Petroleum and Energy Minister Kerenga Kua has confirmed.
The multi billion P'Nyang Gas Project is located in PNG's Western Province and the developer is ExxonMobil.
Minister Kua confirmed in a press statement last Friday (25th of November, 2019) that the Prime Minister James Marape is satisfied that negotiations can now begin between the state and developer.
"I am pleased to see the project being progressed and I commend the state negotiating team for developing the plan (Terms and Conditions) that they presented to the P'Nyang Ministerial Committe," Mr Kua said.
Following this phase and the PMs directive Chief Secretary to Government Isaac Lupari and State Neogiation team is engaging with ExxonMobil in negotiating terms and conditions of a possible P’Nyang Gas Agreement.
This began on Monday November 18.
The outcome of negotiations will be presented to the National Executive Council for its endorsement before it is signed by the interested parties.
Mr Kua said the P'Nyang Gas Agreement is expected to be signed around the end of this month.