Wednesday, March 21, 2018

PNG owned KPH Companies aims to grow domestic Energy

Papua New Guinea  owned oil and gas company Kumul Petroleum Holdings is committed to developing the domestic energy sector, managing director Wapu Sonk said.
Mr Sonk while speaking during the Petroleum and Energy summit in Port Moresby that concluded yesterday, said that the time is right for new developments for LNG in PNG.
He said as captured in the Vision 2050, about 70 percent of the country’s household should be powered, but so far only 15 percent is covered.
“It is simply not working and we need a big gap change,” he said.
Mr Sonk said KPHL believes in gas reserves to allow for clean and cheap gas for energy to supply the domestic market to achieve the vision 2050 of the Government.
He said besides the household energy needs, industrial development is critical for the long term to provide employment and open up opportunities and the diversification for the extractive industries.
Mr Sonk said a study carried out shows how they can optimise the opportunities and out of 10 industries the basic industries need more energy usage and the role of KPHL is to look at domestic market to have enough gas to underpin development using gas from stranded fields.
He said in line with KPHL role, they have started to build a gas power supply in Port Moresby, with 25 percent of the 57.8 MW power plant already started through the partnership with Oil Search Limited and KPHL, through their joint venture company Niuenergy. Post courier

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