Landowner groups sign equity deal

By SHIRLEY MAULUDU
TWO landowner groups under the PNG LNG project beneficiary groups on Tuesday signed the agreement to partake in the purchase of the Kroton equity.
The two were from Moran and Kutubu in Southern Highlands.
Four of the five governors under the PNG LNG project beneficiary groups on Tuesday signed an agreement with Kumul Petroleum Holdings Limited to use the vendor financing option to purchase the 4.27 per cent Kroton equity in the project.
The governors were Francis Potape of Hela, William Powi of Southern Highlands, Kila Haoda of Central and Havila Kavo of Gulf.
Following that, landowners groups also signed the agreement.
Moran PDL 5 (petroleum development license) chairman Pape Punga said he was happy with the agreement and signed it on behalf of his people.
Kutubu PDL 2 chairman Sakai Kei said he signed it on behalf of PDL 2 Kutubu.
“All the leaders in PDL 2 have agreed to sign this. We are thankful to the governors of Hela, Southern Highlands, Central and Gulf, who have taken the lead to make this happen,” he said.
KPHL managing director Wapu Sonk yesterday told The National the two brown field landowner groups from Moran and Kutubu had accepted the vendor financing offer by KPHL. “And we would like to ask the other from Gobe, pipeline segments 4, 5, 6 and 7 to come forward and take up the offer as well.”