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PNG’s First LNG Project Landowners Petition Government Over Proposed Direct Equity

Papua New Guinea’s first LNG Project has once again come into the spotlight, with its landowners petitioning the National Government over their proposed direct equity in the PNGLNG Project.

At a gathering today, landowners representing the different sections of the project signed a petition calling for, among other things, a more direct role in sourcing funding for their direct stake in the project.

They say a decision by the National Government to specifically authorise Kumul Petroleum Holdings Limited to act on their behalf has been unfair, as the proposed terms put forward by KPHL are unrealistic.

A petition put forward by the landowners now calls on the National Government to respond favorably to their demands.

The fourteen point petition calls for, among others;

  1. The National Government to rescind the decision to specifically authorise KPHL to act on behalf of landowners to source funding for the beneficiary group in regards to the 4.27 % equity in the PNGLNG Project, and
  2. To keep the window of acquisition opened indefinitely beyond December 31st, so as to allow the Beneficiary Group to acquire the direct equity following a due diligence exercises.

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