PNG to reap major benefits from LNG

PRIME Minister Peter O’Neill has given an undertaking that the government is committed to ensuring the country gets maximum benefits from the liquefied natural gas (LNG) project.

Mr O’Neill, who was speaking at adinner last Friday to mark the conclusion of the construction phase of the project and the commencement of production and exports, described the LNG project as the most successful project ever undertaken in PNG since independence.

He said the government is committed to managing revenue flow in a transparent and sustainable manner and that it supports the government programs.

"Already discussions for the establishment of the Sovereign Wealth Fund is nearing conclusion and we will be able to take it to Parliament very soon. That will ensure that we are able to secure and stabilise our nation’s fiscal future and the future of our country," the PM said.

"We are now able to, at the back of this project, provide free education for every child in the country. We are also able to provide free basic health care for every citizen in this country.

"We are starting to improve the much-needed infrastructure such as roads, major economic highways and of course our programs are starting to reduce major crimes and making our communities much safer.

"I believe the completion of PNG LNG project marks a real "coming of age" for our country. The successful completion and delivery of the project, well ahead of schedule, earned Papua New Guinea two important accolades.

"First, we have shown to the rest of the world that our country is an attractive large investment destination and we are capable of delivering world class projects safely and to the magnitude of this PNG LNG Project.

"The second, the successful completion of the project and start of LNG exports has elevated PNG to that exclusive club of LNG exporting countries."

He thanked the leaders from Southern Highlands, Hela, Gulf and Central provinces and responsible government ministers for their leadership in getting the project off the ground.

"Seven years later the project has been delivered, and the first exports have begun. We can now proudly point to a massive resource development that has taken place. Infrastructure has been built, thousands of jobs have been provided for people and of course the revenue that will come as a result of this project.

"We must build on this success to deliver economic and social services that our country demands and our future generations demand," the Prime Minister said. 

PNG Today / Post Courier