Tag Archives: landowners

Power Project Welcomes LO Participation

Source: Post-Courier

 

 

Landowners can be given the first right of refusal as equity shareholders in the proposed US$120 million (K375 million) Port Moresby power project.
This is according to Kumul Petroleum Holdings Limited (KPHL) managing director Wapu Sonk, who says participation by resource landowners in the project was welcome.
He says this can be achieved through equity participation by the Mineral Resources Development Company (MRDC) in NiuPower Limited.
NiuPower is the entity created by KPHL and Oil Search Limited to underwrite the US$120 million gas fired power station.
LNG project landowners were angered at not being part of the project and threatened to disrupt the US$19 billion investment demanding they own the power station.
Hela landowners said that they had been denied the opportunity to participate in the new project, which will use gas from the PNG LNG liquefaction plant near Port Moresby.
“NiuPower has always been keen to bring in additional equity partners.
“Of course any equity participation must be on commercial terms consistent with the terms agreed between NiuPower and PPL.
“Otherwise there will be substantial increases in the cost of power to PPL and its customers,” Mr Sonk said.
He said Kumul Petroleum and Oil Search had previously invited the State owned MRDC to take equity in NiuPower’s investments to ensure landowner participation in the development of the Port Moresby power station.
“This offer remains open and NiuPower is awaiting engagement from MRDC to discuss the commercial terms for equity participation.
“We, therefore, urge landowners to work constructively with MRDC to achieve their participation in this milestone power project,” he said. Mr Sonk added that following the establishment of the power station, generation requirements for the National Capital District will be covered for a number of years.
“With the creation of NiuPower and the development of the gas fired Port Moresby power station, Kumul Petroleum and Oil Search directly contribute to the government’s energy objectives of electrifying 70 per cent of PNG by 2030, today estimated at around 10 per cent.
“We recognise that electrifying PNG is a development game changer that will improve the lives of our people in line with Vision 2050,” Mr Sonk said.

Photo Courtesy: Loop PNG

Motuans To Have Open Seat in Parliament – O’Neill

May 29, 2017 ~ The National

By Malum Nalu

 

Prime Minister Peter O’Neill has assured Motu-Koitabu villagers that they will have their own seat in Parliament as well as a greater share in project developments in their areas such as the Port Moresby port.

 

He gave the assurance during a campaign rally for Health Minister and Moresby North-West MP Michael Malabag at Tatana village outside Port Moresby on Saturday.

 

O’Neill promised the people that, just like he had turned Hela and Jiwaka into provinces in 2012, he would give the Motu-Koitabu people representation in Parliament.

 

“Today I make a commitment to the people of Motu-Koitabu, you will have your own seat in Parliament after 2017,” he said.

 

“You will have your own member, carrying your own voice, on the floor of Parliament.

 

O’Neill said PNG Ports Corporation had been directed to ensure that “participation and benefits must go to the people of Motu-Koitabu, and especially the landowners of Tatana and Baruni, which must be clearly defined”.

 

“This is a commitment from a prime minister who has delivered shares back to Ok Tedi (landowners), shares back to Bougainville (landowners), and there are going to be more landowners who will benefit because of our policies of giving back to our landowners and our people. We want equal benefits sharing with our people right throughout the country, especially landowners.”