• Contact
  • Privacy Policy
Blacksonrise.com
DONATE
  • Consultation EST
  • Herbal Internal Wash
  • Group Training
  • Videos
  • Spiritual Detox
  • Ecourses
  • Client Area
    • Course Login
    • Video Login
    • LogOut
No Result
View All Result
  • Consultation EST
  • Herbal Internal Wash
  • Group Training
  • Videos
  • Spiritual Detox
  • Ecourses
  • Client Area
    • Course Login
    • Video Login
    • LogOut
No Result
View All Result
Blacksonrise.com
No Result
View All Result

Prime Minister Marape confident of a ‘five train’ LNG future in Papua New Guinea

blacksonrise by blacksonrise
January 31, 2020
in Uncategorized
0
Prime Minister Marape confident of a ‘five train’ LNG future in Papua New Guinea
0
SHARES
12
VIEWS
Share on FacebookShare on Twitter

As talks between ExxonMobil and Papua New Guinea’s State Negotiating Team over the P’nyang gas project reach their nominated ‘walk away’ deadline today, the Prime Minister, James Marape, said he is confident that LNG will help underpin economic growth in the country for the next decade.

Prime Minister Marape addressing business leaders this week in Port Moresby. Credit: Leanne Jorari

Speaking at a business breakfast in Port Moresby yesterday, Prime Minister James Marape was upbeat about the long-term prospects of LNG in the country, while at the same time raising the possibility that the US$10 billion Total-led Papua LNG will proceed regardless of the outcome of negotiations for P’nyang.

The State is in talks with ExxonMobil to try to negotiate better terms from the P’nyang Gas Project but the lack of an agreement ahead of the deadline of January 31 is leading to much uncertainty in PNG’s business community.

Indeed, Petroleum Minister Kerenga Kua this week foreshadowed the possibility of P’nyang negotiations falling over, telling The Australian newspaper:

‘I have cautioned the people of PNG not to hold their breath. We will give negotiations our best shot but at this stage I would rather advise the people of PNG to prepare for the failure of negotiation between the two sides.’

‘Total, at the highest level, has given the indication that, in the worst-case scenario that the third train discussion fails, then the two trains that they need will go ahead.’

Marape reassured a packed crowd of business people that he was not concerned about the seemingly stalled talks.

Story continues after advertisment…

Advertisements

‘Discussion on P’nyang, our possible third train, are going on right now and we intend to conclude the discussion at the very earliest.’

He added that he was not directly involved in the talks.

Papua LNG to proceed alone?

Marape explained that he wanted a deal that was ‘not harmful to investors but also not harmful to citizens,’ reminding his audience that his shareholders were ‘the eight million people of PNG’.

‘We are working with our partners, especially ExxonMobil and their team, to ensure that a third [LNG] train is added to the two trains already running in our PNG LNG Project,’ he said. ‘The possibility of five-train LNG in our country looks positive, whether it is from P’nyang or other fields.’

Marape went on to say that he was confident that French ‘super-major’ Total would still invest in its Papua LNG Project in the event of no deal over P’nyang.

‘Total, at the highest level, has given the indication that, in the worst-case scenario that the third train discussion fails, then the two trains that they need will go ahead, so this is some element of security,’ he said. ‘Five trains of LNG will help me achieve my dream of going past a K200 billion kina economy in ten years.’

The Prime Minister also said that the ‘low-hanging fruit’ of New cast Mining and Harmony Gold’s Wafi-Golpu copper-gold project in Morobe Province and the renewal of Barrick Gold’s mining lease for the Porgera gold mine were also close to a resolution.

Credit: Source link

Previous Post

UN envoy slams violations of pledge to end foreign meddling in Libya

Next Post

Agnes Bain, 78, longtime director of African American Cultural Center – The Buffalo News

Next Post
Agnes Bain, 78, longtime director of African American Cultural Center – The Buffalo News

Agnes Bain, 78, longtime director of African American Cultural Center – The Buffalo News

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

ADVERTISEMENT

HOT Updates

No Content Available

BlackSonRise.com is an online news portal which aims to provide Caribbean News, African News, Business and much more stuff like that. Feel free to get in touch with us!

Follow us on social media:

Recent News

  • Eyewitness: Christmas Eve… | INews Guyana
  • UK stocks edge higher in muted holiday trading – SABC News
  • History repeats for NYCFC against Costa Rican debutant

Subscribe NOW

Loading
  • Contact
  • Privacy Policy

© 2019 Blacksonrise.com is an online news, e-learning, and business website that caters to the global black community.

No Result
View All Result
  • Consultation EST
  • Herbal Internal Wash
  • Group Training
  • Videos
  • Spiritual Detox
  • Ecourses
  • Client Area
    • Course Login
    • Video Login
    • LogOut

© 2019 Blacksonrise.com is an online news, e-learning, and business website that caters to the global black community.

USD $
  • USD USD $
  • EUR EUR €
  • GBP GBP £