KUMUL TO ESTABLISH SECOND GAS-FIRED POWER PLANT IN PORT MORESBY

Kumul Petroleum Holdings Limited (KPHL), Papua New Guinea’s national oil and gas company (NOC) today signed a Memorandum of Agreement (MoA) with Mineral Resources Development Company (MRDC) to establish a second gas-fired power station near Port Moresby. The project, which will be located next to the Port Moresby Power Project being developed by Niu Power Limited, will also use natural gas from the PNG LNG liquefaction plant. It will be developed under a 50-50 partnership and operated by a joint venture company. The gas supplied by the liquefaction plant will feed high-efficiency generators that will produce 45 to 50 megawatts power to supplement the Port Moresby power grid through a new power line and substation network to be constructed in Gerehu. KPHL Managing Director Mr Wapu Sonk said the MoA was the first of its kind between KPHL and MRDC and would enable them to explore gas and power opportunities in Port Moresby and neighbouring provinces. “We are looking at a 45 to 50 megawatt power station that will complement the 57.8 megawatt power plant currently under construction. “The model that we are looking at is very quick to deliver and will take up to six months depending on the commercial arrangements and regulatory approvals." Mr Sonk added that the KPHL-MRDC power project was supporting the Government’s development agenda of increasing access to electricity as well as delivering cheaper and more efficient power supply to the capital city. MRDC Managing Director Mr Augustine Mano said this milestone project will create another source of income for landowners who are now dependent on royalty and equity payments from their resource projects. “We are looking forward to creating the market to make power more affordable to Port Moresby residents,” he said. (Source: Kumul)

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