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June 15, 2021

Early LNG Shipment Causes Negative Outcome

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The early completion of the LNG construction phase has left transport companies bankrupt.

Businessman and Huon Gulf MP, Ross Seymour, called on the national government to assist the companies to pay up their loans.


Mr. Seymour said the companies had obtained loans scheduled for repayment by this year; however, the situation has turned out differently and they are in desperate need of financial assistance.


Mr. Seymour acknowledged the LNG project developer ExxonMobil for the early completion of the construction phase and the first shipment of LNG.


However, he said it is not all good news for transport companies.


He said the transport companies from the Highlands and Momase were managed by the Northern Transport Logistics; EM TV understands Tran’s Wonderland Ltd. has taken over the role.


Mr. Seymour said the early completion of the project has now left the companies, their assets and employees at stake.


They have appealed to the national government for financial assistance.


ExxonMobil on the other hand, today replied saying in actual fact, it almost tripled the number of truckloads required for transporting materials and equipment for the PNG LNG Project from its original estimates.


This obviously meant additional work for local trucking companies.


ExxonMobil said it had also set up business support services such as the Enterprise Centre, which was established in 2010 as a center to help local PNG businesses and landowner companies with training, mentoring and business development.


The PNG LNG Project has spent more than 10 billion kina in PNG and has supported the growth of many local businesses.

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