Kua Warns Resource Company

Minister for Petroleum, Kerenga Kua has warned Twinza to come to the negotiating table for discussions rather than running to the media.

He made this call during Parliament today when questioned by Gulf Governor, Chris Haiveta on the update on the formal agreement signing of the Pasca A project.

Governor Haiveta raised concerns that his Provincial Executive Council members have been coming to Port Moresby for three consecutive times for the signing, which never eventuated.

“We came for the signing but no paper to sign so we left,” Mr Haiveta said.

He further alluded to a statement released by Twinza recently questioning the deals by the State Negotiating Team.

Mr Haiveta added that such statements from Twinza has spoiled investor confidence on the project as well as the State.

He clarified that implications on the statement is serious and urged the Government to bring the CEO of Twinza to PNG for negotiation.

“If you can do it with Barrick and Total, why don’t you do it with Twinza as well?” Governor Haiveta asked.

However, Minister Kua said the approach taken by Twinza to go to media is unacceptable.
He clarified that negotiations are continuing and will be only better if they bring their deals to the negotiation table.

Twinza in the statement released is urgently seeking clarity from the Minister for Petroleum, Kerenga Kua as to whether there is support for foreign direct investment into the country and that the State will honour the deal of July 6, 2021. 

Chairman and CEO of Twinza, Ian Munro, stated “it is extremely disappointing that certain State actors appear to be following their own agendas rather than those of the Prime Minister, demanding new terms and revising terms that were announced on the 13th July. 

“Indeed, this is the third time since the negotiations commenced over 12 months ago that the SNT has changed agreed terms, which were originally announced by the Prime Minister on the 24th September 2020. 

“Twinza, as a company with a proud investment history in PNG, will naturally continue to honour the deal struck on the 6th July 2021.” 

Notwithstanding this setback to investor confidence in PNG, Mr Munro remain hopeful that the Minister for Petroleum, can ensure the State agencies honour the agreed terms to sign the first Gas Agreement under this Government. 

Kua in Parliament responded urging Twinza to come for a roundtable discussion rather than going to the media

Author: 
Freddy Mou