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Review of Papua LNG will Set PNG into Recession : Kua

The review of the multi-billion kina Papua LNG Agreement will be detrimental to the country and send Papua New Guinea tumbling not only into a financial recession but a deep depression.
The signs are on the wall with the cash flow situation very unhealthy while investors are losing confidence with threats of the review of the Papua LNG agreement still hanging in the air.
Peoples National Congress (PNC), the biggest party in the current coalition government called on Prime Minister James Marape to immediately reprimand Petroleum Minister Kerenga Kua and reconfigure the country to avert any further damages.

PNC General Secretary David Dom Kua today warned that the potential financial losses the country stand to lose was frightening.
“Kerenga Kua has been playing personality politics while in the Opposition and now he wants to bring that into the government to the detriment of the nation. He should be sacked immediately for unilaterally pursuing the review of the Papua LNG project without proper consultation through the NEC or the office of the Prime Mnister,” Mr Kua said.
He said, if there was anything to be reviewed, the PNG LNG project agreement should be reviewed as benefits were not filtering to the people on the ground,” Mr Kua said.
“Minister Kua’s ego has taken the better of him as the nation’s economy stands the real risk of coming down on its knees and cast a very bad image on the Marape government,” he said.
While in the Opposition, Kerenga Kua has been propagating review of the oil & Gas Act and the Papua LNG project.
“On his first trip to Singapore to revise the Papua LNG agreement, he could not find anything compelling to review the previous government’s agreement with Total (SA) but recently, there has been a change of heart and he still wants to review the agreement,” Mr Kua said.
“Total has already warned they will pull out and it does, the State will be be in breach of contract and end up paying billions in damages. Where is Kerenga Kua going to find the money to pay this,” Mr Kua asked.


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