"We declare our first goal to be for every person to be dynamically involved in the process of freeing himself or herself from every form of domination or oppression so that each man or woman will have the opportunity to develop as a whole person in relationship with others".

- Papua New Guinea National Goals and Directive Principles

Sunday, 23 September 2012

LNG operator has spent K5billion in PNG

Online Editor; 3:48 pm GMT+12, 21/09/2012, Papua New Guinea

Operator of the multi-billion Liquefied Natural Gas Project, Esso Highlands Limited, have spent almost K5 billion (US$2.4 billion) in PNG to date.

The money was in the form of project related spending with landowner companies (Lanco) and non-lanco suppliers.

This was according to the PNG LNG Quarterly Environmental and Social Report for the second quarter.
The report stated that the work of the Enterprise Centre at the Institute of Business Management (IBBM) and the project’s business development team has played an important role in promoting local participation in the project with approximately K183 million (US$85.7 million) in project related spend with Lancos in the second quarter of this year and K1 billion to date.

Meanwhile, at Thursday’s PNG LNG Media update workshop, hosted by EHL, Lead Media and Communications Adviser Rebecca Arnold said work progress on the project sites are going well.

Arnold said the 407 kilometre offshore pipeline installation was completed.

She said more than 800metres of runway length at the Komo Airfield was completed.

She said the outer shells and roof installation for the two LNG tanks have been completed.

The 2. 4 kilometres jetty trestle outside Port Moresby that will transport the LNG out to the tankers have also been completed.

The US$15.7 billion project involves the construction of gas production and processing facilities in the Southern Highlands, Hela and Western Provinces of PNG.

It encompasses liquefaction and storage facilities (outside Port Moresby) with a capacity of 6.6 million tonnes per year.

More than 700 kilometres of pipeline will connect the facilities.

The project will progress in development phases, with the first LNG deliveries scheduled to begin in 2014.

During the life of the project, it was anticipated that over 250 billion cubic meters of gas will be produced and sold.

LNG will be sold to China, Japan and Taiwan.

The report said the project remains on target for the 2014 first shipment of LNG.

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