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PNG to Negotiate on P'NYANG Gas Project

Papua New Guinea Petroleum and Energy Minister Kerenga Kua has announced negotiations can now begin with the State and the developer of the P'Nyang Gas Project, Exxon Mobil.

The Minister said he is pleased to see the progress of the project and commended the State Negotiating Team for developing the plan that was presented to the P'Nyang Ministerial Committee, comprising economic ministers.

Minister Kua said with this phase now completed, the prime minister has directed him to instruct the State Negotiating Team, led by Chief Secretary, Issac Lupari, to engage with Exxon Mobil in negotiating an agreed terms and conditions of a possible P'Nyang Gas Agreement.

The outcome of these negotiations will then be presented to the National Executive Council for endorsement before it can be signed by all parties.

Minister Kua is confident of a favourable outcome and if all goes well, the P'Nyang Gas Agreement would be signed by the end of November.

NBC News / PNG Today

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