• PNG Business News

Third Train A Possibility, Says PM

There is enough space in the LNG market for PNG to have a third train says Prime Minister James Marape. Mr Marape was speaking at the 8th Prime Minister’s back to business breakfast in Port Moresby yesterday.

He said the possibility of a five train LNG in the country looks positive and that is because LNG into the next 10 years has guarantee that there will be enough resources. This will be made possible at the back of the two existing trains and P’ynyang when it comes on.

The Prime Minister when giving an update on P’ynyang said the state has been having conversations with its partners and they are well aware of the deadlines which they are keeping it to themselves with regards to the new gas agreement deal for P’ynyang.

“P’ynyang aside we have sufficient resources for a third train in country and those in the industry knows exactly the possible opportunities of that train that can be mobilise…P’ynyang resource has shade of 4 trillion cubic gas so those discussions are running and we’ve given ourselves a deadline and we are working towards concluding those deadlines.

I am very conversant with the LNG industry… I know the market space in the LNG business into the 2020s, it’s getting pretty tied with a lot of suppliers out there in the global production so all the sensitivity boxes are ticked off from government’s perspective.

The industry also is ticking them off,” he said.

Mr Marape maintained that there will be no more concessions for the third train.

“As we wind and come to a closure of agreeing to the gas agreement, I’ve indicated to the industry, just honor our oil and gas act, customs act and other laws we have place, meet me there we have the license so we can get out there and get on the business of putting a third train on top of the two trains that we have.

This is delaying what would have been an agreement signed earlier so I am asking the industry just be fair on us , we’ve given you concession already in PNG LNG and Papua LNG we just want you to now honor the spirit of our laws we have today,” he added.

Continue reading at https://postcourier.com.pg/third-train-a-possibility-says-pm/ | Post Courier

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