PNG to pay cash for 19.4% PNG LNG stake

PRIME Minister Sir Michael Somare has announced the PNG government will pay some K3 billion ($A1.47 billion) in cash for a 19.4% equity in the PNG LNG project and implied the rival Liquid Niugini Gas project will possibly get a green light.

PNG to pay cash for 19.4% PNG LNG stake PNG to pay cash for 19.4% PNG LNG stake PNG to pay cash for 19.4% PNG LNG stake PNG to pay cash for 19.4% PNG LNG stake PNG to pay cash for 19.4% PNG LNG stake

The PNG LNG project was recently advanced by constitutional amendments made to better accommodate its needs, especially in regards to construction taxation and employment requirements and legalities.

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