Business News

Pursue LNG Project Benefits

 

By Meriba Tulo – EMTV News, Port Moresby

Governors of the five provinces which host the PNG LNG Project have signed a communiqué, agreeing to work together for the benefits packages owed to their people.

Governors Anderson Agiru (Hela), William Powi (Southern Highlands), Ati Wobiro (Western), Havila Kavo (Gulf) and Kila Haoda (Central) agreed to pursue these benefits, which include royalties, equity, and development levies.

However, their main focus will be the acquisition of the 4.27 per cent equity in the PNG LNG Project, currently held by Kumul Petroleum.

All five governors have agreed to work on an acquisition strategy to ensure they acquire this equity by June 30 this year.

The decision to pursue these benefits on behalf of landowners comes following the delay in the completion of the Clan Vetting exercise in the project areas.

 

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