Peter O’Neill: Government to Ensure Better Deal for Communities

Meriba Tulo | EMTV | 4 December 2018

Negotiating a better deal for Papua New Guinea will be the mantra for the National Government as it looks to finalizing some major projects within the Extractive Industries in the months ahead.

Prime Minister Peter O’Neill made these comments when speaking to EMTV News on Day one of the 2018 PNG Mining & Petroleum Investment Conference.

Addressing the opening session of the PNG Mining & Petroleum Investment Conference, Prime Minister Peter O’Neill elaborated on the efforts by his government in pushing for better deals for upcoming projects within the mining and gas space.

His comments on the back of concerns regarding the perceived unfair distribution of wealth from existing projects operating in PNG.

According to Mr O’Neill, the lessons from current projects will not be repeated, with the National Government aiming to ensure that the country receives a better deal, financially, but more importantly, socially, through respective project agreements.

A major aspect of upcoming projects that the government is keen to complete, is the all-important landowner and clan-vetting exercise, especially within the gas sector – which according to the Prime Minister was rushed during the country’s first LNG project.

The Prime Minister’s comments come at a time when the government is trying to finalise project agreements for the Papua LNG, and Wafi -Golpu Projects respectively.

An MoU between the State and Project developers was signed during the recent APEC Economic Leaders Week in Port Moresby, and according to the Prime Minister, an agreement a similar agreement is expected to be signed for the Wafi -Golpu Project at the conclusion of the Sydney Conference.

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Filed under Financial returns, Papua New Guinea

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