28 Oct 2009

PNG landowners benefit from LNG project payouts

11:43 am on 28 October 2009

Papua New Guinea's government has disbursed more that a million US dollars to landowners of portion 152, a section of the land which is part of the multi-billion kina Liquid Natural Gas project

The payment is the first of outstanding business development grants and seed capital promised by the Government during the Kokopo Benefits Sharing Agreement in May.

The newspaper, The National, reports that the payment has been described by Petroleum and Energy Minister William Duma as "historic".

Portion 152 includes LNG liquefaction plant, storage and loading facilities located near Port Moresby and consists of the Papa, Rea Rea, Porebada and Boera villages.

These Motuan villages will equally share benefits received from hosting the plant site of the PNG LNG project during its lifespan.

Papa Resources Development Ltd chairman, which received 20% of the payment, welcomed the payment and said that it paves the way for early works to progress at the PNG LNG plant site.