O'Neill is taking full advantage of the big energy stage to pump what has happened in PNG; a project which came in ahead of time and shipped its first LNG shipment well ahead of schedule.
"**** Remarks by Hon. Peter O’Neill, CMG, MP, Papua New Guinea Prime Minister on the occasion of Business visit to Tokyo, Japan to welcome the First Shipment of PNGLNG to Japan. June 3rd, 2014 Imperial Hotel, Tokyo ****
I have made this brief visit to Japan to do more than witness the arrival and unloading of Papua New Guinea’s first LNG export shipment. I have also made this visit to acknowledge and express my appreciation for the support the Japanese energy sector, and the investment community, for the development of our oil and gas sectors over the last two or three decades. It is appropriate that our first LNG export is to the Tokyo Electric Power Company - a major Japanese Energy Company.
One of the partners in our first LNG enterprise - The PNG LNG Project - is JX Nippon Oil and Gas Exploration which has a a long history of involvement in oil and gas exploration in Papua New Guinea.
The PNG LNG Project, managed by Exxon Mobil, is a multi national joint venture comprising United States, Australian, Japanese and Papua New Guinea shareholders, including the Government of Papua New Guinea and landowners.
Our initial customers are also a multinational group, with long term contracts with energy companies in Japan, The Peoples republic of China and Taiwan.
The early and long term involvement in Japanese enterprises are currently working in PNG in our resource sectors, including mining, forestry, fisheries as well as oil and gas. We welcome this investment - and the confidence in Papua New Guinea which it confirms.
At the Government to Government level, we have had a strong and diversified relationship that dates back to independence almost 40 years ago. We have benefited from generous aid support and we have a strong mutually beneficial trade and investment relationship.
I thank the Government of Japan for its support for Papua New Guinea, and the encouragement it gives Japanese companies investing and Trading with Papua New Guinea. I especially thank JX Nippon for its investment in our first LNG Project, and Tokyo Electric Power Co for being a foundation and long term Customer. As we formally enter the international gas market place we understand the challenges that must go with that role. We must deliver gas reliably and efficiently and do on a long term basis. We have to focus on resource security in all its facets.
We must maintain a strong and confident economic environment that protects major investment, and grows our international reputation as a reliable supplier of energy to the world and especially the Asia region. We have entered an increasingly competitive industry - and we must be prepared to be as competitive industry - and we must prepare to be as competitive as we possibly can be. That is a challenge my Government understands, and increasingly our landowners understand.
The PNG LNG project has been a remarkable success story. The construction phase is being completed ahead of time, and the exports being unloaded are ahead of time. Its is a benchmark we need to embrace for the future.
The project has already had an enormously beneficial impact on Papua New Guinea. The construction phase saw 10,000 Papua New Guineans trained, skilled and employed. It has benefited hundreds of our small to medium enterprises including landowner owned businesses. It will now deliver long term economic and revenue benefits that will secure our future if we manage them well and managing them well is an absolute commitment i have given.
Finally, i again thank Tokyo Electric for being our first customer. Im sure your association with us over the next 30 years or so will be a beneficial one. Its is a privilege to represent the Government and people of Papua New Guinea on this history making occasion."
