Posted By Staff Reporter
State-owned entity, the National Petroleum Company N-P-C, had partnered with the Mineral Resources Development Corporation M-R-D-C, to push for commercial opportunities to buy gas from the LNG project, and have it supply power for Port Moresby.
N-P-C's Managing Director Wapu Sonk and M-R-D-C's Augustine Mano, signed a Confidentiality Agreement yesterday in Port Moresby, to push their initial partnership, agreed to last year, to a new level.
The Confidentiality Agreement signing will enable the two companies to share financial and other high-level operational information and data, for them to work together.
Under the Joint-Venture, N-P-C and M-R-D-C will buy gas through their various partners, and then give it to an independent power producer, to create gas-powered electricity for the capital city.
Both Mr. Sonk and Mr. Mano say, their move is in line with the Government's commitment to address continuous power issues in Port Moresby.
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