State Owned Enterprise Minister

Minister William Duma said: “I am glad that Kumul Petroleum has been able to raise sufficient funds for the purchase of an additional 2.6 percent interest in the PNG LNG Project from Santos.

“The acquisition of this additional equity increases PNG shareholding in this LNG Project, which will have a long-term benefit for the country.”

Minister Duma outlined that the PNG LNG Project had a long life – in fact, until 2065 – since the Papua LNG Project will use the existing PNG LNG Project plant to earn a tolling fee from processing gas from the forthcoming Papua LNG Project.

State Owned Enterprise Minister, Sasindran Muthuvel, said this when responding to questions raised by Northern Governor, Garry Juffa, at today’s Parliament sitting.

Governor Juffa questioned the State Owned Enterprise Minister over the constant power outages over the last two weeks.

He said it was affecting everyone.

“Em i afectim bisnis, gavman na laif,” Juffa stated.

Over the last two weeks, PNG Power has conducted a load shedding exercise to ration fuel stocks.