Landowners list demands for State

Business

BENEFICIARY groups have listed 14 demands for the Government to look into regarding the 4.27 per cent direct equity acquisition in the PNG LNG project.
The petition is for the unrestricted and fair acquisition of the beneficiary groups’ 4.27 per cent direct equity in the PNG LNG project for impacted landowners, plus the Southern Highlands, Hela, Gulf, Western and Central governments.
They want the Government and stakeholder entities provide a satisfactory response.
“Failure by the Government including the prime minister, ministers, departments and agencies including KPHL (Kumul Petroleum Holdings Limited) to deliver a satisfactory response to all of the above demands by the deadline, will leave the beneficiary groups with no option but to immediately shut down the PNG LNG project,” the petition said.
The petition highlighted the governments’ proposition on the 4.27 per cent equity question to beneficiary groups as “unfair and illogical”.
The petition was signed by members of beneficiary groups after a presentation by Resource Logistics Solution adviser Arthur Somare yesterday in Port Moresby.
Somare told the meeting that the Government had not fairly upheld its agreement to the promised direct equity according to the Umbrella Benefits Sharing Agreement.
The 4.27 per cent equity option to purchase for beneficiary groups is being facilitated by KPH with the deadline closing at the end of December.
KPH managing director, Wapu Sonk had said the kroton equity under the Kokopo UBSA was executed in 2009. “It is an “option” and can be exercised or not.”

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