Papua New Guinea seeks bigger stake in PNG LNG project -the Australian

If Santos' proposed takeover of Oil Search goes ahead, the Australian newspaper reported on Friday.

Marape met with Santos CEO Kevin Gallagher and Oil Search CEO Peter Fredericson in Port Moresby on Wednesday to discuss the deal, which the government has said must meet the national interest.

The newspaper, citing unnamed sources, said the cash-strapped Papua New Guinea government, which needs to give permission for the takeover to proceed, would expect to acquire a stake for a low price or potentially via a loan.

PDL7 to elect board directors

This process follows on from the successful completion of the bank account opening program, conducted by the Mineral Resources Development Company (MRDC) earlier this year, which saw 279 clan accounts opened.

The PDL7 area hosts the PNGLNG Project Gas Conditioning Plant in Hides, Hela Province.


PNG LNG Project’s team mourns the passing of late Grand Chief Sir Michael Somare

In a statement EMPNG says its management and staff join the people of Papua New Guinea to mourn the passing of the founding father of the nation.

EMPNG says the late Grand Chief was a visionary leader that helped lay the foundation for an independent PNG. 

“Throughout his life he was focused on improving living standards and generating opportunities for all Papua New Guineans, and set the standard by which all other leaders in PNG are measured,” said EMPNG Managing Director, Andrew Barry.

PNG LNG Project Agreement review over due

Minister for Petroleum, Kerenga Kua, said he was recently informed of this in a letter by Government Stakeholders.

Minister Kua revealed this during the benefit rollout announcement in Kikori Station, in Gulf Province.

During the benefit rollout for Segment 7 of the PNG LNG Project Pipeline Landowners, Petroleum Minister, Kerenga Kua, revealed that the PNG LNG Project Agreement is well over due for a review.

The PNG LNG Project Agreement was signed in May 2008.

Gulf Pipeline LO’s receive LNG benefits

The Benefit rollout is the first since the signing of the Umbrella benefit Sharing Agreement (UBSA) in 2009 and the first flow through and shipment of LNG in 2014.

This follows the completion of landowner identification, the opening of clan bank accounts, and the election of directors to the board of their landowner company.

It was a historic occasion with Petroleum Minister, Kerenga Kua, and Gulf Governor, Chris Haiveta, accompanying Mineral Resources Development Company (MRDC) Managing Director, Augustine Mano, to announce the benefit roll out in Kikori on Wednesday.

PNG LNG LOs set to receive royalty

The Mineral Resources Development Company will begin the process of opening bank accounts for clans, which began early this week.

PDL 7, also known as Hides 4, is where the PNG LNG Project Conditioning Plant is located.

The four main activities the MRDC and partners will conduct in PDL 7 include:


Negotiations on LNG sales continue

Oil Search Managing Director, Peter Botten, said these negotiations are expected to be completed in the first quarter of 2019 and will increase the total sales under contract from PNG LNG to 7.9 MTPA.

He said the Oil Search equity marketing team continued its engagement with potential buyers for offtake from their share of LNG from the proposed Papua LNG Project.

Account opening exercise for Pipeline begins

Per the advice of the Department of Petroleum and Energy, MRDC is now in the process of rolling out its program starting in segment 7 (Gulf/SHP Border) from Friday, November 2nd .

Segment 7 has the longest length of Pipeline running through it, covering 37 clans who together hold a 44 per cent interest.

This process will see that the landowners of the pipeline start to receive their royalty and equity payment from the PNGLNG Project.

LNG gas to fuel new power station

Expected to be fully functional by January 2019, the power project will use natural gas supplied by the PNG LNG project to feed six high efficiency reciprocating gas engines and generators.

It will produce 58MW base load power to the Port Moresby power grid through a new 66kv power line and substation network.​

In a tour of the power project adjacent to the PNG LNG Plant, operator Niu Power says the project is halfway done.

Exxon resumes PNG LNG productions

LNG exports are expected to resume soon.

One train is currently operating at the LNG plant near Port Moresby. The plant’s second train is expected to restart as production is increased over time.  

During the period that production was shut-in, ExxonMobil was able to complete unrelated maintenance scheduled for later in the year to allow for more efficient operations in the months ahead.