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Papua New Guinea exports first every Natural Liquified Gas

Staff Reporter | 6:21 PM | |
 
A BIG Government delegation led by Prime Minister Peter O’Neill yesterday joined PNG LNG Project developer ExxonMobil and other partners involved in the multi-billion kina gas project to celebrate the first shipment of gas on LNG tanker Spirit of Hela, to Japan.

The shipment will leave our shores in the coming days in what PNG’s founding prime minister Sir Michael Somare described as a founding moment for the country.

THE successful completion of the PNG LNG project and the loading of first LNG cargo for export is a boost for foreign investment in PNG, says Prime Minister Peter O’Neill.

O’Neill said the first loading of the LNG cargo yesterday was an historic moment for PNG and something to be proud of.

The first LNG cargo was successfully loaded onto the awaiting LNG vessel, Spirit of Hela by O’Neill at the LNG plant site outside Port Moresby.

"This project puts PNG on the world stage as a country that can work with foreign investors to deliver projects on time. It instils confidence in this country – and that is something for all of Papua New Guinea to be proud of", O’Neill said.

The event was witnessed by heavies from the industry including major shareholders and landowner companies involved in the project.

"On behalf of the country and the people of Papua New Guinea I wish to express my appreciation to the team led by Peter Graham and his executive management team", he said.

O’Neill also expressed his gratitude towards shareholders in the project like Oil Search for its strong support.

He also acknowledged others who have been in the initial stages of the project such as former Prime Minister Grand Chief Sir Micheal Somare, Hela Province Governor Anderson Agiru, Arthur Somare, landowner companies like Hides Gas Development Company, Trans Wonderland and others.

O’Neill said the Department of Finance has established a dedicated trust account with Bank of Papua New Guinea to safeguard landowner royalties derived from the PNG LNG Project. Royalties will accumulate in a trust account which will be carefully managed and locked away from any disbursement until the completion of the clan vetting project.

He said in the coming decades, benefits will flow to landowners through the payments of royalties.

"Additionally, the entire country will benefit as the Government uses the revenues from the PNG LNG Project to deliver our strategic plans and commitments’, he said.

Former Prime Minister Sir Michael Somare said it was a very long hard road for the project.

He said all the hard work and sleepless nights put together to get the project off the ground has finally paid off and was an exciting time for PNG.

Managing director of ExxonMobil PNG Ltd Peter Graham acknowledged the support of the Government, stakeholders, partners and landowners involved in the project.

"In the next few days this ship, the Spirit of Hela, will depart Papua New Guinea headed for Japan.

"It is a defining moment for us on the project and for Papua New Guinea.

"I expect the fact that we’ve been able to deliver the project on time also encourage other investors to come and bring their money to PNG", he said.

The LNG vessel, Spirit of Hela has a loading capacity of 177,000 cubic meters of gas.

The first shipment leaves for Japan in the coming days after the loading.
 
Post Courier