Posted By Staff Reporter
Papua New Guinea's National Petroleum Company has entered into a significant agreement with Japanese petroleum company, LNG Japan Corporation.
The two companies signed a Memorandum of Understanding today, which will guide how they intend to develop the marketing, sale and transportation of PNG's Liquefied Natural Gas through a possible marketing and shipping joint venture arrangement.
N-P-C's Managing Director, Wapu Sonk, says once this arrangement gets off the ground, it will enable the company and LNG Japan to collaborate on opportunities to market the LNG and other Petroleum Products as and when an opportunities arise.
Mr. Sonk described the arrangement as a significant milestone in the company's short history as it looks into Marketing and Shipping opportunities.
The N-P-C will also develop in-house training and exposure for its employees under this arrangement.
LNG Japan brings financial and technical capabilities as well as years of experience in LNG Marketing to the table and NPCP is very grateful to be working with it.
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