Prime Minister Hon. James Marape has informed the nation and all stakeholders what happens after the stalemate between the State Negotiating Team (SNT) and ExxonMobil over P’nyang LNG Project.
“It is no secret that I am not pleased with the lack of interest shown by ExxonMobil to migrate towards a mid-point,” Prime Minister Marape said.
“A mid-point in which the State takes home a better deal, instead of terms similar to concession-based gas agreements Papua New Guinea has signed with ExxonMobil and partners of PNG LNG, and Total and partners of Papua LNG.
“I am satisfied that our SNT has subscribed to the mandate bestowed upon Petroleum Minister, Hon. Kerenga Kua.
“ExxonMobil has been told what our intentions are.
“In the interests of fairness, a Ministerial Gas Committee (MGC) will request both the SNT and ExxonMobil to present their positions for the State - through a committee of leaders - to decide what is the best outcome for PNG.”
Prime Minister Marape said he had indicated on all levels of discussions that fundamental policy principles that influenced his Government’s mindset would not change.
“These include no fiscal concessions in P’nyang, treating P’nyang as separate from both PNG and Papua LNG projects, increase in Domestic Market Obligations (DMOs) and local content participation,” he said.
“These will be fundamental in progressing P’nyang.
“In the meantime, I call upon ExxonMobil and Oil Search not to hold the Total project in Gulf to ransom.
“I call upon these two multi-nationals to work with Total to deliver Papua LNG.
“You are beneficiaries of concessions previous Governments have given.
“If you model the project to be uneconomical, then don’t push it: let’s leave the gas in my land and you develop Papua plus further work in PNG LNG.
“After SNT and ExxonMobil present to the MGC, Cabinet will decide on P’nyang.
“We will shift focus to Wafi-Golpu and Porgera mines, Pascal LNG plus other resources sectors so life in PNG is not only dependent on P’nyang and other LNG projects.”
Prime Minister Marape assured the nation that the Mining and Petroleum Ministers would bring in reforms to the Mining and Oil and Gas Acts through enabling Organic Laws this year.
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| Prime Minister Marape |
“It is no secret that I am not pleased with the lack of interest shown by ExxonMobil to migrate towards a mid-point,” Prime Minister Marape said.
“A mid-point in which the State takes home a better deal, instead of terms similar to concession-based gas agreements Papua New Guinea has signed with ExxonMobil and partners of PNG LNG, and Total and partners of Papua LNG.
“I am satisfied that our SNT has subscribed to the mandate bestowed upon Petroleum Minister, Hon. Kerenga Kua.
“ExxonMobil has been told what our intentions are.
“In the interests of fairness, a Ministerial Gas Committee (MGC) will request both the SNT and ExxonMobil to present their positions for the State - through a committee of leaders - to decide what is the best outcome for PNG.”
Prime Minister Marape said he had indicated on all levels of discussions that fundamental policy principles that influenced his Government’s mindset would not change.
“These include no fiscal concessions in P’nyang, treating P’nyang as separate from both PNG and Papua LNG projects, increase in Domestic Market Obligations (DMOs) and local content participation,” he said.
“These will be fundamental in progressing P’nyang.
“In the meantime, I call upon ExxonMobil and Oil Search not to hold the Total project in Gulf to ransom.
“I call upon these two multi-nationals to work with Total to deliver Papua LNG.
“You are beneficiaries of concessions previous Governments have given.
“If you model the project to be uneconomical, then don’t push it: let’s leave the gas in my land and you develop Papua plus further work in PNG LNG.
“After SNT and ExxonMobil present to the MGC, Cabinet will decide on P’nyang.
“We will shift focus to Wafi-Golpu and Porgera mines, Pascal LNG plus other resources sectors so life in PNG is not only dependent on P’nyang and other LNG projects.”
Prime Minister Marape assured the nation that the Mining and Petroleum Ministers would bring in reforms to the Mining and Oil and Gas Acts through enabling Organic Laws this year.
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