Second LNG project soon, says Minister

By ROBERT PALME

THE Government is expected to sign another major LNG project in the Gulf Province in about three weeks.
Petroleum and Energy Minister William Duma told a small crowd this at the Tega primary school on Saturday.
Mr Duma later told the Post-Courier that this project was big enough to justify one LNG project.
The project, which is around the size of the Southern Highlands project, is being developed by the InterOil.
Meanwhile, he told the crowd that the current laws were working in our favour as no Papua New Guinean had the capacity to explore the resources.
The Minister said it cost K10 million to dig one well and that did not mean that the resource, be it oil, gas or any other that there would be findings of resources.
Mr Duma said with the current findings, it was bringing in much needed finance and providing jobs for hundreds or thousands.
However, when Papua New Guinean companies were able to finance such explorations, Papua New Guineans would able to find and develop resources.
He said this adding that the laws gave the company that found the resource 100 ownership and the Government would buy only 25 per cent into the discovery.
Mr Duma said $US14 billion would be spent on the LNG project in the Southern Highlands and the country would benefit immensely.
He said this when challenging Western Highlanders to provide the environment conducive for people from other parts from the region, especially the Southern Highlanders and Engans to spend their money in Mount Hagen. 21 July 2009