Warning to resource owners


LANDOWNERS of the multi-billion kina PNG LNG project in Hela have cautioned other landowners of oil and gas resources in the country to be very careful when entering into agreement with the Government and developers to develop their resource.
Landowner leader for Hides in Hela and businessman Larry Andagali and fellow landowner leaders of the LNG project issued the warning in Port Moresby yesterday when raising concerns over the prolonged delay in receiving royalty and equity payments for their oil and gas.
“The situation that we have been going through is very frustrating.”
Andagali  said after all the agreements between the landowners and the Government to ensure landowners equally participated and benefit from the project, nothing was happening.
“It is important for the Government and developers to understand that we, as landowners, have the right to benefit from our resource but in this not the case.”
Andagali said this must be a lesson to other landowners in the country who may sign any agreement or understanding that they want to enter into they must learn from us and do it properly and do it better.

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