Processes followed in LNG signing: PM

PRIME Minister Peter O’Neill has assured the nation that proper processes were followed during the signing of major projects including the Papua LNG project.
He was replying in Parliament to issues raised by Tari-Pori MP and former finance minister James Marape on funding which had been discussed in Cabinet, in particular the UBS loan.
O’Neill said Cabinet confidentiality “must be maintained by former ministers”. “(But) if there are instances of impropriety, I have no issue (with that). They have every right to speak up,” he said.
“Some of these people have been with me for seven years and so they should know all the secrets. So they should put it out there. We are not afraid of that.”
He said the UBS loan documentation negotiations were done by the Department of Treasury and it was its responsibility. “When they brought it to Cabinet, it was when I first saw the full documentation of the proposals,” O’Neill said.
“At no certain time had I met anybody from UBS or anyone else. My advice comes from Treasury and they are the rightful government officials.
“National Executive Council decisions are signed after the decisions have been made. In my term as prime minister that has never been the practice.
“We don’t go around signing NEC decisions on the road. We make sure proper meetings are conducted.
“I allow everybody to have a say before any decision is made. There are 33 individuals in cabinet who have the right to speak up and they do. UBS loan documents and facilities are done through Kumul Petroleum Holding, a state owned entity. It has got nothing to do with treasury or budgeting process.”