30 Oct 2008

Solomons Cabinet to consider Pacific Petroleum Project

11:06 am on 30 October 2008

While just Nauru, Tuvalu and the Cook Islands are the only countries to sign up to the Pacific Petroleum Project, others, such as Solomon Islands will not be far behind.

The three small countries have committed to a memorandum of understanding which Pacific Island Forum Economic Ministers hope will see the region buying fuel in bulk and paying less for it.

Solomon Islands fully backs the Project it but cannot commit just yet, as Finance Minister, Snyder Rini, explains.

"At the moment I don't sign up to it because I have to bring the whole issue to Cabinet. The Cabinet has to endorse it before we sign the MOU, but we support it."

Snyder Rini.

The Finance Minister of Samoa, Niko Lee Hang, says meanwhile, that they back the Project in principle but, under their current arrangements, his country can already buy fuel more cheaply than New Zealand and Australia.