Gulf LNG project all set

 By GYNNIE KERO 

GULF LNG project will go ahead as initiated once InterOil announces its joint venture partner for the project at the end of June, Gulf Governor Havila Kavo says. 

He said this yesterday during the opening of InterOil’s community office complex and landowner trade store at the Wabo station in Gulf.

Kavo said 50% concession of the Gulf project benefit would go towards the state making it the biggest ever project development in PNG.

“InterOil has been at Wabo (Baimuru district) for more than 11 years and put Wabo on map. 

“The world now knows where the Elk/Antelope gas fields are.”

He acknowledged Prime Minister Peter O’Neill and the national executive council (NEC) for the approval of InterOil’s LNG development project.

“As the prime minister has announced two weeks ago, the decision also approves the acquisition by the state of an additional 27.5% equity interest in the Elk/Antelope gas fields, over and above the 22.5% interest to which it is entitled under the Oil and Gas Act, on terms to be negotiated with InterOil”.

With weeks to go before InterOil announces its joint venture part­ner in the Gulf LNG project development, corporate development executive vice-president Christian Vinson told The National that the Gulf LNG project was going on well.

He added that InterOil had to find the right partner to operate the project.