Click Here to Download and View Hela Dawn Magazine

Total Page:16

File Type:pdf, Size:1020Kb

Click Here to Download and View Hela Dawn Magazine December Qtr 2015, ISSUE No. 1 Standing Hela Province A drive for health, wealth and growth. Changing Hela Development Agiru’s journey paradox to First Gas District in 18 profile 24 32 Finance Agriculture 24 25 SOVEREIGN WEALTH FUND PASSED Reflection Finance 32 16 AGRICULTURE BEFORE OIL & GAS O’Neill Hela’s ray of hope TABLE OF CONTENT FEATURE 20 Private equity fund on the way page 4 LNG highway approved page 5 Cover Story page 6-8 Agriculture before oil & gas page 9 AMBUA LODGE page 10 Governor Agiru’s FLOWERS Targeting enemies of development journey to First Gas Health service revived page 12 MSF calls for quality health care page 15 O’Neill is Hela’s ray of hope page 16 Hela development paradox page 18 Publisher: William Bando P.O. Box Tari, Hela Province Forging a new Hela page 22 Produced by: Private Public Media Ltd. P.O. Box 1761, Vision City, NCD. District Profile - Koroba Lake page [email protected] Kopiago 24-28 Editor: Frank Senge Kolma Matiabe’s Roost page 30 Graphics and layout: Franklin Kolma Our journey to First Gas page 32 For enquiries and/ or contributions, contact PPML on: P.O. Box 1761, Vision City, NCD. Drought & Frost strike Wage page 36 [email protected] on +(675) 7666 2937 page 38 Cover picture: The iconic Koroba Lake Oil search helps drought victims Kopiago District Administration office lit up at night. Pic by Hon. Philip Undialu Hela Hydro page 39 The FIRST WORD am tempted, in this first issue of Hela Dawn, to beat I my chest and pat us all on the back. And there is much cause for celebration. 2015 marks 41 years since the late Andrew Wabiria moved for a separate Hela Province in the House of Assembly in 1974 and it is 40 years since Independence in 1975. Three years ago we realized Wabiria’s dream Hela Governor, Hon. Anderson Agiru, MP when Parliament passed the Hela and Jiwaka bills. Wabiria has sadly moved on but I know he celebrated total dedication to the task of building our province with us in the spirit. and our society up. In 1998, a year after I was first elected to office as Here I name four social behaviors that have become Governor of Southern Highlands, there were moves a menace to our communities, our new province and for a second access to the sea from Hela and Southern our country. They are Alcohol, Drugs, Gambling and Highlands to the Gulf of Papua. Today, it is a reality Guns/Tribal Fights. with only 34 kilometers remaining to complete. A For me, these time and money wasting and violent sea port in the Gulf is almost certain and next on the pastimes are the single most dangerous enemies of agenda. development and progress. They must be expunged In 2000 I fought bitterly when the National from our midst if we are ever to create anything out of Government proposed piping PNG gas to Queensland, the opportunities that near paralyze us. These behaviors Australia. I wanted for Hela’s last mother pig, gas, to be are related and feed upon each other. killed onshore. That was realized in May 2008 with the Illiteracy and ignorance we can find cures for with signing of the PNG LNG Gas Agreement. time and education. Criminally deviant behavior we In July 2015 I stood beside Prime Minister Hon. can safely lock away in maximum security jails with Peter O’Neill to see the LNG tanker, the Spirit of Hela, good policing, a robust judiciary and a functioning sail away with the historic first shipment of LNG and Corrective Institutions Service. a week later was with the PM, Tari Pori MP James The social evils I speak off are growing on top of and Marape, and Koroba Lake Kopiago MP Philip Undialu despite education and time. They are the cancer upon when Hela sailed into the majestic Tokyo Bay to deliver our individual and corporate bodies that need urgent its cargo. It was truly a joyous moment. cauterizing or we will suffer a slow, withering, and As I key this, the first benefits of LNG is about to be painful death as a society and nation. brought on-shore. Finally, I wish to direct our attention away from the These achievements are truely remarkable and a glamor of the LNG project back to our land. good cause for celebration. Yet now is not the time to The wealth that we have on top of the land in the rest on our laurels. There is much more to be done. things we can grow are limitless, and sustainable. Every With opportunities always come challenges; with individual can engage in farming with little knowledge blessings come curses. There is always that flip side of or capital. My government is embarked on introducing the coin. As individuals and as a nation we are not very a series of agro-industrial centers which will show case good at guarding ourselves against the flipside of every our agricultural prowess and prove that the sustainable golden opportunity. billions, and therefore our future, is on our top soil. So we have a new province. How do we develop it? My government will concentrate on delivering What are the opportunities, what are the challenges markets, knowledge and opportunities to develop our and how do we tackle both? agriculture and combine that with supply of cheap How do we deter the negative impact of opening electricity and a strong road transport infrastructure up our society to the outside? How do we differentiate to help our people prosper. That is where we shall be between genuine investor and fly by night con-artist spending a lot of our revenue for gas because when the from the flood of inbound migration? How do we stem gas runs out, a strong and vibrant agricultural sector outbound migration of Hela talents, intelligentsia and will secure our future for posterity. money? I thank our brother and our Prime Minister, the Rt And what do we do with increased revenue from Hon. Peter Paire O’Neill for all his support and for his the LNG to grow the needs of today’s generation while first visit to Hela in September, 2015. With him in the keeping enough left over for future generations? cockpit, our Hela dreams and aspirations can travel in When you consider all these questions, you will comfort and luxury and land safe, sound and on time. agree with me that there is much more to be done by May the Great Spirit, Datagaliwabe bless Hela. every person, big or small, important or unimportant, man or woman in every conceivable field to give our Hon. ANDERSON PAWA AGIRU, MP December Quarter 2015 3 Private equity fund on the way I intend to create the biggest private equity fund in PNG and the region. Anderson Agiru Governor of Hela he Hela Provincial Government is set nothing to show for them afterwards. of others and plan for the future.” Tto create a private equity fund to park “I do not want that repeated with Governor Agiru said the plans are all its LNG revenue. revenue for the LNG project. advanced for the establishment of the Governor Anderson Agiru says the “For the provincial government I equity fund. equity fund would be similar to the intend to create the biggest private equity On current conservative estimates Finance Sovereign Wealth Fund but would be fund in PNG and the region. At least PNG is likely to receive K90 billion privately operated. 50 per cent of revenue to the provincial over the 30 year life of the LNG project, Agiru said: “The experience so far with government we will saved for the future a third of which will go to provincial resource development in Papua New generation in this fund. There are many governments and land owners. Hela Guinea is that there are revenue flows examples like the the Norway fund and is likely to end up with a third of that to the national government, the the Albertanian Fund of Canada and there portion which amounts to approximately provincial government and are many other private equity funds K10 billion. the landowners but there is so we will learn from the mistakes There are two lots of revenues. One is direct to the landowners in royalty and equity money which is often very difficult to control. The second lot is the provincial government revenue which comes in the form of royalty as well as MOA or UBSA infrastructure projects and development levies funded directly by the national government through the development budget. The Hela government’s 2013-2014 development grants are still stuck in the alternate dispute resolution in court. Some landowners have contested the provincial government’s claim on the funds. He said revenues will be saved in the Hela equity fund will hold interest for the provincial government and the future generations in perpetuity. “After the gas is gone we must be able to provide the capital venture resources that will be able to fund the programs that we fund during the peak period of gas production so that is the whole idea,” Agiru said. “On our current economic modeling if we save 50 per cent of that we will realize what we are aiming for.” December Quarter 2015 4 Finally, that LNG highway The PM performing the groundbreaking ceremony of the LNG highway during his first visit to Hela in September 2015. abinet in November 2015 maintaining the Halimbu Junction and plant and materials. Capproved a contract worth to Komo Road.” The Hela Roads Joint Venture K87,428,803.46 to be awarded Direct and indirect employment is a 50/50 joint venture between to Hela Roads Joint Venture to in relation to this project is Hides Gas Development Company upgrade and seal the “missing substantial and will benefit a lot of (HGDC) and Shamrock Civil link” road from Nogoli to Komo local contractors and individuals.
Recommended publications
  • An Analysis of How Political Governance of Liquid Fuels Contributes to Energy Security in Papua New Guinea
    AN ANALYSIS OF HOW POLITICAL GOVERNANCE OF LIQUID FUELS CONTRIBUTES TO ENERGY SECURITY IN PAPUA NEW GUINEA BY FRANCIS HUALUPMOMI A thesis submitted to the Victoria University of Wellington in the fulfilment of the requirements for the degree of Doctor of Philosophy in Public Policy Victoria University of Wellington (July 2019) Abstract This study examines how political governance of liquid fuels at the institutional level contributes to energy security in Papua New Guinea (PNG) from a political economic perspective. An interpretive methodology and critical case analysis design were used to analyse LNG energy governance regime (policies, legislation, and institutions) and its relationship with energy security. The research design involved analysis of participants’ observations and documents in relation to the critical cases (instances) in the practice of the energy regime under the Somare and O’Neill governments between 2002 and 2017. By using the characteristics of the Quality Energy Governance Framework (QEGF) which emerged from the analysis of the literature on energy governance and energy security, this study shared a new policy insight that energy security is actually created through the interactions that occur between political actors and the institutions and processes of energy governance. The study found that energy governance is a system of interacting institutions, policies and legislation created by the political institutions for the purpose of achieving economic efficiency in order to produce public value. The effective functioning of this system depends on the quality of the political institutions. A strong political institution constructs a quality policy regime which, in turn, translates into operational and adaptive qualities of an energy regime that enhances energy security.
    [Show full text]
  • 'Wish Lists': Are They Compatible with National Government Objectives?
    PACIFIC ECONOMIC BULLETIN Policy dialogue Landowner ‘wish lists’: are they compatible with national government objectives? Samuel Kriss Koyama National Centre for Development Studies, The Australian National Unviersity From November 1998 to January 2001, the the Department of Petroleum and Energy, author was the Coordinator of the Central becomes more and more wary of the ‘wish Moran Petroleum Development Project lists’ (also known as ‘shopping’ or (through the Coordination and Liaison infrastructure lists) with which it will be Branch of the Petroleum Division of the confronted. Department of Petroleum and Energy), which These wish lists can provide the basis covers Petroleum Development Licence 5 and for negotiations during the Development is the newest petroleum development field in Forum, but are they compatible with national Papua New Guinea. This petroleum field government objectives? There is also the was initially producing under the Extended question of whether the wish list items, if Well Testing (EWT) program from early 1998 agreed, will be honoured.1 in the PDL 2 portion of the field and It is not a question of whether these commenced EWT in the PDL 5 side in early commitments are impossible to honour, but 2000. As such the Moran oil field is a unitised rather, whether they are in line with the petroleum licence field in that it is producing government’s planning framework; as the oil from two different licence areas. Departments of Planning and Monitoring By early 2001, the Moran oil field will and Treasury and Finance will only honour have moved from EWT to full-field production commitments that are in line with government after consultations through a Development policy initiatives and planning framework.
    [Show full text]
  • The Legacy of 2002 in Koroba-Lake Kopiago Open Electorate
    21. Results at any Cost? The Legacy of 2002 in Koroba-Lake Kopiago Open Electorate Nicole Haley In June 2007, the people of Koroba-Lake Kopiago went to the polls for the fourth time in five years. The election was of particular interest because Koroba-Lake Kopiago was one of the six open electorates in which the 2002 general election had been deemed to have failed, and was one of the 10 electorates around the country that had had a limited preferential voting (LPV) by-election prior to the general election. It is also an electorate that has been subject to election studies in the past (see Haley 2002, 2004, 2006 and Robinson 2002) and for which there is consequently a great deal of comparative longitudinal data. This chapter draws upon observations and findings of both the 2006 Koroba-Lake Kopiago by-election observation team (Haley 2006) and the 2007 Koroba-Lake Kopiago domestic observation team.1 It finds that the election was anything but fair, yet despite fraud and malpractice on a scale never before seen the election was widely held to have been successful and a significant improvement on 2002. It further suggests that the national government and Papua New Guinea Electoral Commission (PNGEC) were willing to accept results at any cost in order to avoid a repetition of the events of 2002 (Somare 2006:5), and advocates a more honest assessment of future elections. The integrity of elections cannot merely be asserted but must be demonstrated. Background Koroba-Lake Kopiago is one of eight open electorates in Southern Highlands Province (Figure 20.1).
    [Show full text]
  • OIL SEARCH LIMITED ANNUAL REPORT 2004 Oil Search Limited ARBN 055 079 868 Oil Search Limited Annual Report 2004
    FOUR INITIATIVES THAT ARE DELIVERING VALUE FOR OIL SEARCH OIL SEARCH LIMITED ANNUAL REPORT 2004 Oil Search Limited ARBN 055 079 868 Oil Search Limited Annual Report 2004 ONE OBJECTIVE TO PROVIDE LONG TERM TOP QUARTILE RETURNS TO SHAREHOLDERS Oil Search’s objective is to generate top quartile returns to shareholders. Four initiatives, outlined in this report, are helping to achieve this objective. Oil Search believes that it must ensure that its core PNG business is sustainable long term and operates safely and efficiently in accordance with global oil and gas industry best practice. Gaining control of our core business, through the assumption of operatorship of the oil fields, has enabled the Company to re-focus on building the PNG oil and gas business, by increased investment in exploration, appraisal and development activity. In addition, efforts to reduce costs and to continuously improve operational performance have had, and will continue to have, a positive impact on profitability. The Company’s results in 2004 demonstrate the success of this investment and operating strategy. Delivering sustainable top quartile returns cannot be achieved without recognition that our staff, host governments and the local community are a vital component in the Company’s success. As such, maintaining world class safety and environmental standards, conducting effective government relations and dealing with our local communities in an honest and open manner are core values for Oil Search. Opposite: Plaque at the entrance to Oil Search’s head office in Port Moresby, PNG 1 2 Oil Search Limited Annual Report 2004 INITIATIVE NO. 1 MAXIMISING THE VALUE OF OUR PNG ASSETS Oil Search has been the operator of all PNG’s producing oil and gas fields since October 2003, when it took over the oil field operating role from ChevronTexaco.
    [Show full text]
  • Papua New Guinea
    COUNTRY REPORT Papua New Guinea The full publishing schedule for Country Reports is now available on our website at http://www.eiu.com/schedule. 4th quarter 1999 The Economist Intelligence Unit 15 Regent St, London SW1Y 4LR United Kingdom The Economist Intelligence Unit The Economist Intelligence Unit is a specialist publisher serving companies establishing and managing operations across national borders. For over 50 years it has been a source of information on business developments, economic and political trends, government regulations and corporate practice worldwide. The EIU delivers its information in four ways: through subscription products ranging from newsletters to annual reference works; through specific research reports, whether for general release or for particular clients; through electronic publishing; and by organising conferences and roundtables. The firm is a member of The Economist Group. London New York Hong Kong The Economist Intelligence Unit The Economist Intelligence Unit The Economist Intelligence Unit 15 Regent St The Economist Building 25/F, Dah Sing Financial Centre London 111 West 57th Street 108 Gloucester Road SW1Y 4LR New York Wanchai United Kingdom NY 10019, US Hong Kong Tel: (44.20) 7830 1000 Tel: (1.212) 554 0600 Tel: (852) 2802 7288 Fax: (44.20) 7499 9767 Fax: (1.212) 586 1181/2 Fax: (852) 2802 7638 E-mail: [email protected] E-mail: [email protected] E-mail: [email protected] Website: http://www.eiu.com Electronic delivery EIU Electronic New York: Lou Celi or Lisa Hennessey Tel: (1.212) 554 0600 Fax: (1.212)
    [Show full text]
  • Energy Sector Assessment
    CAPE PNG, Linked Document 6 ENERGY SECTOR ASSESSMENT A. Sector Context 1. Electricity sector in Papua New Guinea. Papua New Guinea (PNG) is a vast country with a population of 7.4 million people, of which only about 12.5% are estimated to live in urban areas.1 It is principally the urban areas that have access to grid connected electricity, and it is estimated that less than 10% of the total population has electricity access. Electricity access in rural areas is estimated to be under 3.7%.2 The mining industry, which is one of the main drivers of PNG’s economy, largely depends on captive power stations for their operations. 2. Lack of funding for upgrading and rehabilitation and even for routine maintenance is leading to a further deterioration in services, while the anticipated rise in demand due to economic growth and an increasing population will further stress the system if large-scale investments are not made to develop the electricity system. Supplying reliable and affordable electricity and expanding access to electricity to a larger proportion of the urban and rural populations is thus essential to make a positive impact on the socioeconomic well-being of PNG’s citizens and on the economic development of the country. 3. Electricity generation capacity and major power systems. Electricity generation capacity in PNG is about 250 megawatts (MW). Hydropower accounts for about half of the electricity generated and diesel for a third, with the rest generated from gas and geothermal energy plants, which are principally used in the mines (footnote 2).
    [Show full text]
  • Report on the PNG LNG Project Financing (Redacted for Public Release)
    EXPORT-IMPORT BANK – OFFICE OF INSPECTOR GENERAL OFFICE OF INSPECTOR GENERAL EXPORT-IMPORT BANK of the UNITED STATES Report on the PNG LNG Project Financing (Redacted for Public Release) June 18, 2014 OIG-INS-14-01 EXPORT-IMPORT BANK – OFFICE OF INSPECTOR GENERAL The Export-Import Bank of the United States (Ex-Im Bank) is the official export-credit agency of the United States. Ex-Im Bank is an independent, self-sustaining executive agency and a wholly-owned U.S. government corporation. Ex-Im Bank’s mission is to support jobs in the United States by facilitating the export of U.S. goods and services. Ex-Im Bank provides competitive export financing and ensures a level playing field for U.S. exports in the global marketplace. The Office of Inspector General, an independent office within Ex- Im Bank, was statutorily created in 2002 and organized in 2007. The mission of the Ex-Im Bank Office of Inspector General is to conduct and supervise audits, investigations, inspections, and evaluations related to agency programs and operations; provide leadership and coordination as well as recommend policies that will promote economy, efficiency, and effectiveness in such programs and operations; and prevent and detect fraud, waste, abuse, and mismanagement. This inspection was conducted in accordance with the 2012 Quality Standards for Inspection and Evaluation as defined by The Council of Inspectors General on Integrity and Efficiency. This report does not constitute a Government audit and therefore, it was not conducted following the Generally Accepted Government Auditing Standards (“GAGAS”). PNG LNG INSPECTION REPORT OIG -INS -14 -01 To: David Sena, Senior Vice President & Chief Financial Officer Claudia Slacik, Senior Vice President & Chief Banking Officer From: Mark Thorum Assistant Inspector General for Inspections & Evaluations Subject: PNG LNG Inspection Report AP084099XX Date: June 18, 2014 Attached please find the final inspection report on the PNG LNG project AP084099XX – Papua New Guinea.
    [Show full text]
  • Sexed Pistols
    United Nations University Press is the publishing arm of the United Nations University. UNU Press publishes scholarly and policy-oriented books and periodicals on the issues facing the United Nations and its peoples and member states, with particular emphasis upon international, regional and transboundary policies. The United Nations University was established as a subsidiary organ of the United Nations by General Assembly resolution 2951 (XXVII) of 11 December 1972. It functions as an international community of scholars engaged in research, postgraduate training and the dissemination of knowledge to address the pressing global problems of human survival, development and welfare that are the concern of the United Nations and its agencies. Its activities are devoted to advancing knowledge for human security and development and are focused on issues of peace and governance and environment and sustainable development. The Univer- sity operates through a worldwide network of research and training centres and programmes, and its planning and coordinating centre in Tokyo. Sexed pistols Sexed pistols: The gendered impacts of small arms and light weapons Edited by Vanessa Farr, Henri Myrttinen and Albrecht Schnabel United Nations a University Press TOKYO u NEW YORK u PARIS 6 United Nations University, 2009 The views expressed in this publication are those of the authors and do not necessarily reflect the views of the United Nations University. United Nations University Press United Nations University, 53-70, Jingumae 5-chome, Shibuya-ku, Tokyo 150-8925, Japan Tel: þ81-3-5467-1212 Fax: þ81-3-3406-7345 E-mail: [email protected] general enquiries: [email protected] http://www.unu.edu United Nations University Office at the United Nations, New York 2 United Nations Plaza, Room DC2-2060, New York, NY 10017, USA Tel: þ1-212-963-6387 Fax: þ1-212-371-9454 E-mail: [email protected] United Nations University Press is the publishing division of the United Nations University.
    [Show full text]
  • Update on OIL and GAS SECURITY
    Session4-11 PAPUA NEW GUINEA Update on OIL AND GAS SECURITY PANDA ISHMAEL PRINCIPAL PETROLEUM PROJECT COORDINATOR & KEN JAMES LNG PROJECT COORDINATOR STATE DEPARTMENT OF PETROLEM 1 PAPUA NEW Oil and Gas Supply and Demand Situation GUINEA Introduction o Papua New Guinea (PNG) is a nation made up of over 8 Million people with over 700 different languages and culture. o The country depends heavily on the export of Non Renewable Resources, with the Mining and Petroleum sector contributing more than half the country's revenue. o In the Petroleum Sector PNG exports mainly Crude Oil and LNG. A small quantity of petroleum products are also exported by the country’s only refinery (Napanapa). o Crude Oil production in PNG began in 1991 by Chevron until Oil Search took over in 2004 which operates the oils fields. o LNG production and export started in 2014 by Exxon Mobil. o PNG has only 1 commercial refinery. Napanapa Refinery built and operated by Inter Oil and recently bought by Puma Energy 2 PAPUA NEW Oil and Gas Supply and Demand Situation GUINEA Crude Oil Supply and Demand in PNG o PNG Oil Field generally produce Sweet Crude and Condensate* (*form gas fields). o Cumulative Crude Oil production in PNG since production began in 1991 is 52,334,265 mstbo. o Oil production from the maturing fields are declining from 120 000 stbo/d in 1991 to 35 000 stbo/d in 2017 (latest 2017, Oil Search). o However, the PNG LNG project has added economic life extension to the maturing oil fields.
    [Show full text]
  • 121024 Citi Conference 1 on 1
    O I L S E A R C H L I M I T E D Citi’s 4th Australian Investment Conference 24 October 2012 1 Oil Search Profile Established in Papua New Guinea (PNG) in 1929 Market capitalisation ~US$10 billion Listed on ASX (Share Code OSH) and POMSOX, plus ADR programme (Share Code OISHY) Tunis Operates all PNG’s currently Sulaymaniyah Tunisia producing oil and gas fields Iraq Dubai PNG Government is largest shareholder with 15%. Sana’a Yemen Exchangeable bond over shares issued to IPIC of Abu Dhabi Papua New Guinea Kutubu Ridge Camp 29% interest in PNG LNG Port Moresby Project, world scale LNG (Head Office) project operated by ExxonMobil Australia Brisbane Exploration interests in PNG, Sydney Middle East/North Africa 2 Key Oil and Gas Fields, PNG Madang PPL260 Angore P’nyang PRL3 Porgora Wabag Gold Mine Juha 260 Hides Tagari PDL8 Proposed Juha PDL9 PRL11 Facility PDL1 Mt. Hagan Moran PPL277 6°S Kundiawa PRL02 PDL6 Goroka Kiunga PDL5 PDL7 233 Mendi 233 Agogo Hides Conditioning Plant PPL219 Moro Airport & Komo Airfield PDL2 Kutubu Mananda 5 PPL339 PRL14 SE Mananda Gobe Main Lae 338 339 PDL4 PDL3 339 7°S PRL09 338 Barikewa Elk/Antelope PRL08 338 Kimu 339 Kopi Wharf SE Gobe PPL338 PNG LNG Project Uramu 339 Gas Resources Kopi Scraper PPL339 Station PRL10 PNG LNG Project Oil Field New Facilities PPL312 Kerema 339 339 8°S Gas Field Non PNG LNG Kumul Terminal Prospect PPL276 Gas Resources PPL234 Oil Pipeline Exploration PNG LNG PPL385 Gas Resources Gas Pipeline PPL244 Flinders OSH Facility LNG Facility PNG LNG 9°S Project Facility Daru Major Road PRL01 Pandora
    [Show full text]
  • APEC Energy Overview 2002
    ASIA PACIFIC ENERGY RESEARCH CENTRE APEC ENERGY OVERVIEW 2002 DECEMBER - 2002 Prepared By ASIA PACIFIC ENERGY RESEARCH CENTRE (APERC) THE INSTITUTE OF ENERGY ECONOMICS, JAPAN Inui Bldg.-Kachidoki 16F, 1-13-1 Kachidoki, Chuo-ku, Tokyo 104-0054, JAPAN Tel: +81 (3) 5144-8551 Fax: +81 (3) 5144-8555 Email: [email protected] (administration) APERC Website: http://www.ieej.or.jp/aperc/ FOR THE ASIA-PACIFIC ECONOMIC COOPERATION SECRETARIAT 438 Alexandra Road #14-00 Alexandra Point Singapore 119958 Tel: (65) 276 1880 Fax: (65) 276 1775 E-mail: [email protected] Website: http://www.apecsec.org.sg APEC ENERGY OVERVIEW FOREWORD The APEC region continues facing many challenges in providing for the energy needs of its growing economies. Energy transport infrastructure – which allows energy to be obtained from a variety of sources in a variety of forms – is increasingly recognised as vital to ensuring the security of energy supply and competition among energy suppliers. Reform of gas and electricity markets continues to be pursued as a means of enhancing productive efficiency and reducing energy prices to consumers. Energy efficiency measures are being promoted as a cost-effective and environmentally beneficial adjunct to supply-side options for providing energy services. As always, providing adequate supplies of oil, gas and electricity in an environmentally responsible manner and at reasonable cost is essential to sustainable economic growth in the region. Recognising the importance of information exchange on recent energy trends, the APEC Expert Group on Energy Data and Analysis (EGEDA) and the APEC Energy Working Group (EWG) endorsed the production of an annual APEC Energy Overview at their meetings in early 2000.
    [Show full text]
  • DOUBLE OR NOTHING the Broken Economic Promises of PNG LNG This Is a Publication of the Jubilee Australia Research Centre
    DOUBLE OR NOTHING The Broken Economic Promises of PNG LNG This is a publication of the Jubilee Australia Research Centre. About Jubilee Australia Authors: Paul Flanagan and Luke Fletcher Design by: Dina Hopstad Rui Jubilee Australia (formal name: the Jubilee April 2018 Australia Research Centre) engages in re- search and advocacy to promote economic The information in this report may be printed justice for communities in the Asia-Pacific or copied for non-commercial purposes with region and accountability for Australian cor- proper acknowledgement of Jubilee Australia. porations and government agencies operating there. Acknowledgements Contacts us: We would like to acknowledge the people in Phone: (+61) 02 8286 9706 Australia and PNG, whose work, dedication, Email: [email protected] advice and assistance went into the develop- Mail to: PO Box 20885 World Square NSW 2002 ment of this Report: www.jubileeaustralia.org Lucielle Paru, Malcom Larsen, Brami Je- gan, Rod Campbell, Kate Macdonald, Brynn O'Brien and Martyn Namyrong. PNG LNG construction DOUBLE OR NOTHING: THE BROKEN ECONOMIC PROMISES PNG LNG Table of contents FIGURES 3 TABLES 3 EXECUTIVE SUMMARY 4 SECTION 1: INTRODUCTION 10 1.1. TOO GOOD TO BE TRUE? 11 SECTION 2: MACROECONOMIC IMPACTS 14 2.1. THE ACIL-TASMAN PREDICTIONS 14 2.2. ACTUAL MACROECONOMIC OUTCOMES 14 SECTION 3: IMPACTS ON PNG GOVERNMENT BUDGET 19 3.1. PREDICTION VS THE REALITY 19 3.2. DIGGING A LITTLE DEEPER: THE EITI DATA 21 3.3. COSTS OF THE PROJECT TO THE BUDGET 22 3.4. ESTIMATION OF FUTURE REVENUE 24 SECTION 4: BROADER IMPACTS 26 4,1, SECTORAL IMPACTS 26 4.2.
    [Show full text]