Vendor Finance

Managing Director, Wapu Sonk, told Loop PNG recently that landowners have gone in quietly to sign the agreement and expects to have all landowners’ signatures within the next couple of months.

He said the current economic climate has made it unattractive for landowners to find the money to buy the 4.27 percent indirect interest in the PNG LNG Project.

The signing by the Provincial Governments now entitles them to the 4. 27 per cent indirect interest in the PNG LNG Project.

The Governors include William Powi – Southern Highlands, Francis Potape – Hela, Kila Haoda – Central, and Havila Kavo – Gulf.

The signing was witnessed by landowners representatives from the Petroleum Development License and Pipeline areas.