Gas deal a boost for landowners

Business

PRIME Minister Peter O’Neill says a white paper on natural gas development in PNG will enable landowners to get a better and fairer return on their resources.
“This is an important document for our country as we move forward. But it will be developed together taking into account all partners including our landowners,” he said.
“PNG has the opportunity to broaden its economic base so that we are not overly dependent on the resources sector. But we continue to promote other sectors in tourism fisheries, forestry and agriculture which hold the greatest potential for our nation.
“Natural gas continues to hold a greatest potential of our country. We have to take advantage of every opportunity it presents.”
He said PNG continued to export much of the raw form of gold and copper, oil and gas and minerals.
“It is time for us to develop some of these sectors in our country. They provide the greatest opportunities for creating additional investment, more jobs and strengthening our economy.
“We cannot continue to export raw products so that the value added to these resources is to the benefit of others.”
O’Neill said PNG needed to ensure that there were jobs for its young population as it continued to provide opportunities for small to medium-sized enterprises.

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