EXXONMOBIL has partnered with Papua New Guinea's Mineral Resources Development Company (MRDC) to supply jet fuel for the next six to 16 months, and eventually set up a refinery in the country, says Prime Minister James Marape.
Marape said this during the signing of a memorandum of agreement (MoA) in Port Moresby yesterday between the two companies.
“The agenda the Government is pushing is for ExxonMobil to exclusively influence PNG’s push toward downstream processing,” he said.
“The MoA would first see ExxonMobil supply the country with imported jet fuel from Singapore in the initial stages of the agreement, moving forward ExxonMobil would exclusively develop the downstream processing of the oil and gas industry in the country.”
Marape said through the partnership with ExxonMobil, PNG could have access to energy resources that would be processed in the country and used to sustain the country’s need for consistent and competitive energy.
MRDC managing director Augustine Mano said ExxonMobil, the LNG suppliers, would now be looking at setting up a fuel refinery in the country.
“The refinery would exclusively see imported jet fuel from Singapore come into the country and influence the fuel markets in the country, which should consistently improve the energy situation in the PNG.”
The Prime Minister said through the energy policy, the Government wanted to use the nationally-owned MRDC create mechanisms in place that would ensure continuous availability of energy in varied forms, and in sufficient quantities and at affordable prices.
He said over time, the country could build its own fuel depots, buildings and own its refineries onshore, own power plants that utilised the supply of the country’s oil, gas and mining industries.
The National /Pacific Mining Watch
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