PNG LNG AGREEMENT HAS BEEN SIGNED

Papua New Guinea has experienced nothing like it before. The excitement for the commencement of Papua New Guinea’s single largest project, the Liquefied Natural Gas (LNG) project, is infectious. From the mountains to the islands, from the east to the west, the buzz is deafening. There is certainly positive anticipation in the air albeit the ink on the project agreement has barely dried.

Thanks to the many landowners who one by one, like dominoes in a pack, signed up to allow the final agreement between the project developers Exxon Mobile (Esso Highlands) and the Government to take place and the license to be granted.

The plan to pipe gas from PNG's Highlands to Port Moresby for export to Asia is predicted to double the country's gross domestic product and create thousands of jobs. It is expected to deliver 6.6 million tonnes of gas a year bringing in huge amounts of revenue for the PNG Government and affected land owners.

There is not going to be a chance to sit and watch the world go by when the opportunities will be right there for the taking. We have ourselves to blame if we become bystanders in this $US16 billion (K42 billion) venture which will span over 30 years and promises to bring much needed wealth generation to our people.

To me the agreement signing was definitely a memorable milestone event and history in the making. I am proud to be a witness having heard the radio live broadcast on FM100 from the National Parliament and applauding with every hopeful phrase.