KPHL cleared to acquire extra LNG shares

ICCC Commissioner and Chief Executive Officer Paulus Ain said ICCC made this decision following its assessment and considered that the proposed transaction will not affect competition or change the competitive dynamics of the market in PNG.

“The ICCC was satisfied that the Proposed Acquisition of up to a 5 percent project interest in the PNG LNG Project from Santos by KPHL would not likely have the effect of substantially lessening competition in any market in PNG,” Ain said.

KPHL Strengthens Ownership in PNG LNG Project

This strategic investment further strengthens Kumul Petroleum's position in the energy sector and sets the stage for continued growth. Kumul Petroleum's Managing Director, Wapu Sonk, expressed his enthusiasm for the deal, stating that after months of meticulous negotiations with both national and international financiers, they are pleased to announce the successful acquisition of additional equity in the PNG LNG Project. This venture has been in motion since the National Executive Council's initial approval in September 2022.

Papua LNG Info Session

The event provided business houses, both local and international, the opportunity to learn more about the Papua LNG Project, operated by TEP PNG.

Additionally, the event saw the launch of the Supplier Management and WAN PNG Portals respectively. Papua LNG is committed to providing job opportunities for Papua New Guineans whether this be through bringing their competencies to contribute to the Project or providing avenues for this.

Papua LNG on schedule

Prime Minister, James Marape and the senior government Ministerial team were briefed by Senior Executives of TotalEnergies at the FEED announcement on Monday night, 6th March. 

The Total team was led by Julian Pouget, Senior Vice President for the Asia Pacific region who was present during the announcements.

“We were pleasantly informed that by next year construction of multi-billion Kina worth of infrastructures would start and run until first gas in 2027,” PM Marape said. 

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: