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PNG LNG Project Agreement review over due



The PNG LNG Project Agreement review is well overdue by two years.


Minister for Petroleum, Kerenga Kua, said he was recently informed of this in a letter by Government Stakeholders.


Minister Kua revealed this during the benefit rollout announcement in Kikori Station, in Gulf Province.


During the benefit rollout for Segment 7 of the PNG LNG Project Pipeline Landowners, Petroleum Minister, Kerenga Kua, revealed that the PNG LNG Project Agreement is well over due for a review.


The PNG LNG Project Agreement was signed in May 2008.


“PNG LNG Agreement we signed in back in 2008. It is due for a review in 2018. But for some reason, we did not pick it up. And that review includes the review of landowner issues. So we will be going into that space this week,” said Minister Kua.


Since the singing of PNG LNG Project Agreement there still remain many legacy issues pertaining to landownership. Some of which are still in court to this day.


Minister Kua said they will soon commence discussions on the PNG LNG Project Agreement review with ExxonMobil. And it will be an opportunity to review the project agreement arrangements as well as legacy landowner issues.


“In the last three days I received a letter from Government Stakeholders who said the review is overdue by two years. It’s the first time they brought it to my attention, but I have not responded to the letter. 


I will be saying lets commence the review of the Agreement with the developers, but at the same time you incorporate the issues of landowners and review it together. 


So that will take its own process. Yet again we ask for your cooperation and we work together.”


The announcement by Minister Kua also comes at a time when Prime Minister, James Marape, has on several occasions stated the Governments position to gain more from resources projects.


A stance which has seen negotiations on the P’nyang LNG Project failed twice with ExxonMobil not agreeing to the States terms.


Source: http://www.looppng.com/business/png-lng-project-agreement-review-over-due-90558