PNG LNG QUERY

Ajouté : 2026-05-31

[00:00:03]As Parliament reconvened today, the deputy opposition leader and member for Hiri Koiari District, Keith Iduhu, highlighted that the Kroton Equity Option refers to a provision in the 2009 Kokopo Umbrella Benefits Sharing Agreement that allowed impacted landowners and provincial governments in Papua New Guinea to acquire an indirect 4.27% stake in the PNG LNG project.

[00:00:30]>> The special purpose vehicle is intended to hold and manage the 4.27% direct equity interest in the PNG LNG project.

[00:00:38]>> This was achieved by buying a 25.75% share in the special purpose vehicle by Kumul Petroleum Holdings Limited, the state-owned oil and gas company. He highlighted the creation of the special purpose vehicle board.

[00:00:55]And the board of that SPV is created and cons- constitutes as follows.

[00:01:03]As a Hides PDL landowners and Hela project areas to be rotated every 2 years.

[00:01:10]The Southern Highlands PDL 2 and pipeline project area to be rotated every 2 years.

[00:01:15]An independent director with investment financial institution background.

[00:01:20]An independent director representing pipeline project area in Gulf, Western, and Central Province to be rotated every 2 years.

[00:01:28]The governor for Hela, ex officio director permanent.

[00:01:32]The governor for Southern Highlands, ex officio director representing Southern Highlands Province.

[00:01:38]And then governor for Gulf Province, ex officio.

[00:01:42]Rotational roles every 2 years. He said the board structure contains no dedicated seat for plant site owners for Hiri Koiari and Central Province, including its governor. Further asking the prime minister asked of questions related to the Quatrain Equity option and NEC's decisions.

[00:02:01]Uh and if there was a cabinet decision that didn't include the the plant site land owners, then that is a mistake or that is a fallacy.

[00:02:13]Plant site land owners are important.

[00:02:18]They're my people as much as they're uh member for Hela province people.

[00:02:22]They are included in this restructuring that is taking place. Prime Minister Marape said the restructure will include the 60,000 people associated with PNG LNG project. I'm in the light here, National MTV News.