Royalties safe: Marape

By MALUM NALU
FINANCE Minister and Tari-Pori MP James Marape says royalty, equity and development levies for landowners and provincial governments from the PNG liquefied natural gas exports are safe.
He said the financial benefits had been accruing since the first shipment of LNG left the PNG production facilities.
He was responding to questions raised on the whereabouts of LNG proceeds since first export shipment in 2014. “Many people have been asking if Government is keeping these funds especially meant for provincial governments and landowners of the PNG LNG project areas,” Marape said.
“Let me assure all that these funds are safe and kept in trust accounts until landowner identification is verified and completed.”
He said K135 million each for the royalty and development levy was held in a Central Bank trust account.
The Mineral Resources Development Company holds K150 million for the 2 per cent free-carry equity.
“The money is prescribed by the Oil and Gas Act and hence no-one will touch or spend what is meant for landowners and the five provincial governments.”
He urged the landowners to assist the completion of the social mapping process.
“The Government is contemplating on releasing funds to landowners who have no dispute. But (it) will be nice if all receive theirs together.
“Hence I appeal to the landowners, especially in upstream areas, to assist in bringing to a conclusion the social mapping work.
“Government appreciates that disputes are prevalent in this exercise, hence we are also supporting Justice Ambeng Kandakasi’s alternate dispute resolution programmes in those areas so we can conclude this outstanding landowner identification process.”