LNG boost

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EXXONMOBIL produced more than 27 million tonnes of liquefied natural gas, and delivered 374 cargoes since production began four years ago, according to managing director Andrew Barry.
He told the PNG Petroleum and Energy Summit at the Stanley Hotel and Suites in Port Moresby yesterday that last year, more than 8.2 million tonnes were produced, and 110 cargoes delivered.
“This is about 20 per cent beyond what we originally thought the plant could achieve when the facilities were designed,” he said.
“In May of last year, the Hides Gas Conditioning Plant achieved a milestone with one trillion cubic feet of gas produced since operations began.”
He said the PNG LNG gas last year continued to reliably supply around 20 per cent of Port Moresby’s domestic power demand.
“PNG LNG will also be providing gas to the new 58 megawatt power plant currently being built outside Port Moresby, which will add a further 40 per cent of capacity to Port Moresby’s market,” he said.
“We are also excited about working with our partners Kumul (Petroleum Holdings) and the MRDC (Mineral Resource Development Company) gas for more power plant capacity built.
“We continue to look at opportunities for other power project opportunities and have gas reserved for those, including in the Hides area.
“Our partnerships particularly with community organisations in Hela and Southern Highlands have been critical in helping us to understand the needs of our project area communities since the earthquake.”
Meanwhile, Petroleum Minister Dr Fabian Pok has reminded industry partners against warehousing gas resources after the granting of licences.
He said the government would not tolerate such practices.
“There has been too much wasting time and rhetoric from some companies. And it is time the government put its foot down,” Pok said.
“I have instructed my department to do an audit and report back to me. Those found practising this will have their licences reviewed and penalised.
The summit ends tomorrow.

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