Gulf secures 80% of Papua LNG tier one benefit

After three months of negotiations, the multi-billion-kina Papua LNG Project has reached a significant milestone, with Gulf Province securing 80 percent of the Tier One benefits and Central Province receiving 20 percent.

The verbal agreement was reached on Wednesday, following negotiations over the benefit-sharing arrangements between the two provinces.

Petroleum Minister Jimmy Maladina described the agreement as an important step towards establishing a fair, transparent and sustainable benefit-sharing framework for the Papua LNG Project.

Mr Maladina acknowledged the landowners and affected communities involved in the process, saying Tier One is a critical phase that establishes the foundation for the remaining negotiations and the eventual implementation of agreed benefits.

The agreement was signed at around 6pm by State representative and Petroleum Minister Jimmy Maladina, Oil and Gas Director David Manau and Acting Gulf Governor Morris Taudevin.

The signing was briefly paused following concerns raised by Central Governor Rufina Peter and other representatives from Gulf Province, who requested time to properly review the document before signing.

The signing later resumed, with the Central Governor, district representatives and LLG representatives proceeding with the agreement.