Kroton option queried

Business, Normal

The National, Wednesday January 6th, 2016

 By Gedion Timothy Lapan 

THE concern now for beneficiary groups of the PNG LNG project is to acquire the Kroton option offered by the State, according to former Koroba Lake-Kopiago MP John Kekeno.

Kekeno, the chairman of the Prospective Development Licence One (Hides) told The National that beneficiaries would exhaust all means at their disposal to acquire the 4.22 per cent benefit of the multibillion-dollar PNG LNG project.    

But he wants the State to clarify the status quo of the 4.22 Kroton Equity and its position on how would help the beneficiaries.

“We do not want to be kept in suspense – (it has been) six years since the Kokopo agreement,” Kekeno said. 

“Has the option been mortgaged?

“Please (clarify) so that we can decide on what are at our disposal.

“We are not against the Government on this bid. 

“Clan vetting is not an issue. 

“Please tell us how we can buy this equity which is K3 billion.”

He called on the managing director of the Kumul Petroleum Holding Ltd Wopu Sonk to explain how KPHL would help the beneficiaries acquire the Kroton equity, as mentioned in The National yesterday.

He said the  beneficiaries would convene the second meeting tomorrow after the first one last Sunday.

He called on Hela Governor Anderson Agiru, Government officials,  and LNG advisers to advise the beneficiaries on how to acquire the Kroton Equity.