Oil, gas quarantine for PNG use

CERTAIN percentages of resources harvested in the oil and gas sector will be quarantined for domestic use.
Oil, gas quarantine for PNG use Oil, gas quarantine for PNG use Oil, gas quarantine for PNG use Oil, gas quarantine for PNG use Oil, gas quarantine for PNG use

The new Port Moresby Power Station runs on Gas

Staff Reporter

This was said by Prime Minister James Marape at a state function at parliament house last week, where he gave a presentation on the Manus provincial government's share of the subscription payment to the National Gas Corporation (NGC).
 
He said this was part of the government's outlook to do more downstream processing in the oil and gas sector, The National newspaper reported.
 
"Every nationally owned company should be given equal opportunity to participate in the oil and gas business. As far as our outlook is in the oil and gas sector, downstream processing is something that we are seriously discussing and that's part of our policy and this government's DNA.
 
"This will not only be in oil and gas but all the other sectors of our resource harvest including forestry. But in the oil and gas sector in particular, we are looking at quarantining certain percentages of our resource harvest for domestic use which is better known as domestic market obligation.
 
"Certain percentages of resources harvest will be put in law through an amendment that is currently taking place that this percentage is now given for the domestic market to use."
 
Marape called on provincial governments to support the state's initiative in encouraging combined investment in nationally owned resources development companies, The National reported.
 
"The power is in the combined balance sheet," he said.

 

topics

loader