The hydrocarbon industry in Western Province remains one of the biggest untapped gas fields.
Secretary for the Department of Petroleum and Energy, Rendle Rimua, highlighted this when comparing the two hydrocarbon projects in Papua New Guinea.
This includes the multi-billion kina PNG LNG Project and the Stanley Gas Condensate Project in Kiunga.
Prior to the Kiunga Stanley Gas Condensate Forum, Secretary for the Department of Petroleum and Energy, Rendle Rimua, in an interview with EMTV, explained the two gas projects.
There are two different types of gas fields in Papua New Guinea, which includes the associated gas field and non–associated gas field.
The associated gas field includes the oil and gas condensate together while the non-associated fields, which are usually pure gas fields.
The PNG LNG Project and the Stanley Gas Condensate Project are Associated Gas Fields. However, in terms of size, the PNG LNG Project is huge in comparison to Stanley.
Secretary Rimua said with the PNG LNG Project, they are producing gas, condensate and Liquefied Petroleum Gas or LPG.
However, for the Stanley project, the developers want to produce only the condensate and pump the gas back into the reservoir until such time when a buyer is secured.
However, negotiations are underway with mining giant Ok Tedi for the 15 percent gas reserve under the Domestic Market Obligation.
The first market for the Stanley Gas Condensate will be sold to InterOil for its Napanapa Refinery in Port Moresby.
Meanwhile, the signing for the Development Agreement for the Stanley Gas Condensate Project has been scheduled for Wednesday.
https://youtube.com/watch?v=1qeIq7L_ZUI%3Ffeature%3Doembed%26wmode%3Dopaque%26showinfo%3D0%26showsearch%3D0%26rel%3D0
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