Post Courier | June 17, 2019
A sigh of relief for the aggrieved landowners and key stakeholders of the recently signed Papua LNG, the gas project agreement will be “reviewed”.
This was the ultimate assurance from the Petroleum Minister Kerenga Kua pronounced during the handover take over ceremony between him and outgoing minister Dr Fabian Pok today in Port Moresby.
He said the review should be done to satisfy the government and people that “it was signed in compliance with all applicable laws” and protocols and key institutions like the Bank of Papua New Guinea and Treasury, to name a few have been involved equitably and statutorily.
Former Petroleum Minister Dr Fabian Pok meanwhile has issued caution that by 2024 the supply of gas world-wide will increase and demand will be less.
“If we think we have enough that the world can wait than we have a serious problem,” he said.
He added that the Papua LNG agreement will see the country reap more than what the PNG LNG in the highlands had to offer.
Dr Pok admitted there had been a lot of criticisms and critiques about the Papua LNG agreement but he was convinced that it was for the better of the country and his team had put in substantial effort to ensure it was beneficial to the state and key stake holders like the Gulf Provincial government and landowners.
“There is nothing sinister about it,” he said.
“When you sit on the chair, you are bound by what happens around the world,” Pok said referring to international gas markets supply and demand which influence business.