LNG project

Violence ‘clearly connected’ with LNG frustrations

This was outlined in Jubilee Australia’s new report titled: “On Shaky Ground: PNG LNG and the Consequences of Development Failure”.

“The report describes six of these incidents. So far, they have all remained relatively contained, and loss of life has been minimal,” reads the report.

Govt queried on future plans

A Papa village ward councilor in Central Province is questioning what plans are there for the next 5 years considering the global issues that are affecting PNG.

Councilor Tarata Geita stated that it is important for the PNG government to inform the people on what the future holds for the LNG project in the country.

He said they are the most impacted and they still have some benefits outstanding as well.

They are adamant that the government initiate some kind of awareness or information programs so that they are aware of issues relevant to the gas project.

Hela leaders threaten to shut LNG project

The Hela leaders met in Port Moresby and demanded that investigations into the killing of officers must be given paramount importance.

Speaking as the Provincial Administrator and relative of the slain officers, William Bando, has called on Southern Highlands leaders, including Prime Minister Peter O’Neill, to address the problem, because the operations of the PNG LNG project stands to be affected by the recent ambush and murder of the police officers.

Landowners’ royalty calculations completed

Acting Secretary for the Department of Petorleum and Energy, Kepsie Puiye, told Loop PNG that all calculations on how much in royalties to be paid to landowners from Papa, Lea Lea, Porebada, and Boera has been done.

The landowners from the four villages threatened to stop operations at the plant site on Monday (Queens Birthday) over outstanding royalties which have yet to be paid despite concluding all pre-requisites.

Polye to sell Oil Search shares to fund autonomy plans

Speaking in Kokopo, East New Britain, during the Triumph Heritage Empowerment Party campaign launching on Saturday Polye announced the ambitious plan.

He said the actions would be taken if THE Party forms the next Government.

Polye promised ENB autonomy and claimed that other provinces such as Eastern Highlands, Western, Milne Bay and West New Britain were also ready for autonomy.

Risky to borrow too much: NRI

Because of the high growth rate previously, and with the commencement of the LNG project in 2014, expectations were high, leading to a number of hasty borrowing decisions by the Government.

National Research InstituteI’s Senior Research Fellow and Economic Policy program leader, Dr Francis Odhuno, said borrowing itself was not bad, as long as you know you’re going to repay your loan on time and the investments you make on the borrowed money, yield high returns. However, with unforseen shortages comes the temptation to borrow more.

Calls to help curb Hela’s law and order problem

Hela is faced with law and order issues due to the influx of guns, drugs and alcohol abuse.

Hela Gimbu Association (HGA) deputy chairman Habia Babe said that law and order is out of control with illegal importation of alcohol and drugs due to the beer ban.

Babe said people have access to guns in order to protect themselves as there is no law enforcement in place. 

“We call on the government to take drastic action to address the law and order issue for the safety and security of the LNG project and the 2017 National elections.

Oil Search records positive cash flow in second quarter

The sharp fall is believe to be the low point in the LNG contract pricing cycle, and lower sales volumes.

During the period, the Company paid US$145 million (K443.29m) in scheduled semi-annual principal and US$83 million (K253.75) in interest under the PNG LNG Project finance facility, as well as US$39.1 million (K119.54m) on capital expenditures.

Managing Director Peter Botten said despite funding these disbursements, net debt declined slightly, from US$3,315 million to US$3,304 million, highlighting the strong cash flows generated from operations.

Hela and SHP MPs to address people following Agiru’s death

The MPs are Peter O’Neill (Prime Minister / Ilalibu-Pangia), James Marape (Minister for Finance / Tari-Pori), Francis Awesa (Minister for Works and Implementation / Imbonggu Open), De Kewanu (Vice Minister for Works / Member for Mendi Open), William Powi (Governor for Southern Highlands Province), Jeffery Komal (Nipa-Kutubu Open), Francis Potape (Komo-Margarima Open), James Lagea (Kagua-Erave Open) and Philip Undialu (Koropa-Lake Kopiago).

PNG owes 20 banks worldwide: O’Neill

When responding to Opposition Leader Don Polye’s questions on the LNG funds today during question time in Parliament, O’Neill described Polye’s questions as “childish”.

He said Polye was a then government minister who took part in the decision of building the LNG Project and should know better rather than speculate and come up with allegations that the government has misused the LNG funds.

O’Neill said the government must repay this debt as it is not “free money”.

He said the government is not managing the LNG project but the developers, which is ExxonMobil.