A petrochemical park will be built outside Port Moresby, Petroleum and Energy Minister Nixon Duban said yesterday.
Duban said petrochemical is an industry that is emerging in our region and the government sees Konebada, outside Port Moresby, as the ideal location for the petroleum park for the industry. “It has not been tapped properly and that’s the reason why, when we went to Japan to witness the first shipment of LNG. “At the initiative of the prime minister, we immediately held talks with petrochemical companies in order to set the stage to enter this country’s economic growth.” Duban said, while encouraging petrochemical companies to enter into the country, the government acknowledged the need for gas supply. “We are mindful of the fact that the gas that they are trying to access will be difficult. “For a petrochemical plant, you probably need about 400-500bcf which must come from an existing gas project. “At the moment this country has got the PNG LNG. All the gas that is now available for the project have already been pre-sold under contractual arrangements which cannot be easily made available to petrochemical companies. “So if you look at the next project on line, you’ve got the Elk/Antelope. That is the project that will probably come around 2022. And within now and 2022, our country has got the biggest challenge to find cheap gas for petrochemical companies,” Duban said. Thus, he added that “it is in our interest as the government to conduct feasibility study to ensure that we have cheaper gas available for petrochemical companies. This two hundred plus hectares for Konebada Park is reserved”. Comments are closed.
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