Kumul Petroleum Managing Director Wapu Sonk-Singapore

PNG Govt criticised for allowing monopoly in sector, acknowledges Sonk

Speaking during CWC's 8th World LNG Series summit in Singapore, Kumul Petroleum Ltd managing director, Wapu Sonk, acknowledged there were anti-competition concerns, since Exxon would have an interest in all major discovered PNG fields once the InterOil takeover closes.

However, he says there would still be two LNG operators.

InterOil shareholders voted in favour of the takeover in New York on Wednesday and the transaction is expected to close by the end of this month.

PNG has enough for second LNG scheme, says Sonk

The official was dispelling concerns that PNG LNG operator ExxonMobil's takeover of InterOil, now approved by the latter's shareholders, would leave the country with just one liquefaction project.

Total's proposed Papua LNG "would still be built" even once Exxon expands its 6.9 million ton per year PNG LNG project with a third train, says Wapu Sonk, managing director of PNG national oil company, Kumul Petroleum. Kumul holds the government's 16.6 percent stake in PNG LNG.