by Mickey Kavera – EM TV News, Port Moresby
Resource owners of the PNG LNG Project in Hela are being urged to cooperate with the state team currently in the province to complete the landowner identification process headed by Justice Kandakasi.
Executive Chairman of the National Gas Corporation, Alfred Kaiabe, said this while participating with the landowners and the state team.
Landowners have been querying the financing of the additional 4.22% equity secured during the Umbrella Based Benefit Sharing Agreemen in 2009, in Kokopo.
Kaibe told landowners NGC is the mandated entity under sections 176 and 179 of the Oil and Gas Act, to manage all landowner benefits including equity and royalty payments.
The National Gas Corporation is also mandated to manage affected provincial and local level governments project benefits.
He said future petroleum project benefits for all landowners, local and provincial governments such as the Stanley Gas and the Elk Antelope in the Western and Gulf Province would also come under NGC.
As such NGC is sourcing and securing funds which will be used to purchase the additional equity demanded by the landowners.