Firm eyes gas development

 THE National Petroleum Company PNG intends to venture into development and commercialisation of gas with interest areas the company recently acquired from Cue Energy Resources Ltd, managing director Wapu Sonk said.

He said the company was looking at developing the gas for power generation and other areas of gas development like the petrochemical industry.

“There are several options available to monetise the gas for power generation, export and petrochemical activities,” Sonk said.

“There are different development options that we are looking at together with Oil Search Ltd and Santos who are actually our partners in the PNG LNG project.

“NPCP going in together with Santos and Oil Search basically makes it interesting in the sense that we can use the synergies that exist and work with our already existing partners to develop the gas fields that we’ve now acquired,” Sonk said. Meanwhile, NPCP and PNG Power Ltd in August this year, signed a Memorandum of Understanding to develop interim and long term energy supply solutions for the growing demand of electricity in Port Moresby, and rest of Papua New Guinea.

The Port Moresby gas supply project, once completed, will see the company purchase gas from the PNG LNG project, condition it near the LNG plant site and supply to PNG Power for its power generation needs.

NPCP had stated that its multi-billion investment in the PNG LNG project has made it possible for the company to commence negotiations with the project to secure an adequate supply of gas over several years. 

Sonk said NPCP would make available gas to PNG Power to generate up to 100 MW of power in the near future with expansion options.