gas

LNG gas to fuel new power station

Expected to be fully functional by January 2019, the power project will use natural gas supplied by the PNG LNG project to feed six high efficiency reciprocating gas engines and generators.

It will produce 58MW base load power to the Port Moresby power grid through a new 66kv power line and substation network.​

In a tour of the power project adjacent to the PNG LNG Plant, operator Niu Power says the project is halfway done.

Gas to boost power supply in PNG

New gas-fired plant to increase installed capacity by 10%

Last November William Duma, minister for public enterprises and state investment, officially launched work on a $120m, gas-fired power station in Port Moresby, which is expected to significantly boost supply to the capital and add almost 10% to the country’s installed capacity, according to data from the Department of National Enterprises.

Oil, gas act sufficient: Pok

He said this following the successful drilling and flaring of the Pasca A4 gas condensate offshore well.

Speaking to media after the milestone, Minister Pok said the Government will work within the confines of the current Act to underscore what is likely to be the country’s  first offshore gas project.

“If there is a need to cater for the offshore then we will. But at the moment, I think the oil and gas act is sufficient for onshore and offshore developments,” he said.

PNGEITI: Contracts still remain confidential

Section 163 of the Mining Act, Section 51 of the Mineral Resource Authority Act and Section 159 of the Oil and Gas Act protect the confidentiality of these contracts.

Without Legislative amendment at this stage, agreements could only be made public with the approval of both the company and the Department of Petroleum and Energy, or the Mineral Resources Authority.

Civil Society organisations have called to have this changed in the interest of greater transparency.

US economy not as bad in 1st quarter, paving way for rebound

The economy, as measured by the gross domestic product, shrank at a seasonally adjusted annual rate of 0.2 percent from January through March, the Commerce Department said Wednesday. That's better than last month's estimate of a 0.7 percent decrease.

Harsh winter weather slowed spending by keeping consumers away from shopping malls and auto dealerships. The trade deficit ballooned, slicing growth by the most since 1985 as exports fell and imports rose.