KPHL supports the SEZ Summit!

Today, fulfilling its commitment as a gold sponsor for this important event, KPHL managing director Wapu Sonk presented a cheque for K100,000 to the Minister for International Trade & Invesment, Richard Maru.

Wapu Sonk said, “Kumul Petroleum Holdings is committed to assist the Government in its establishment of SEZ’s around the country and the use of domestic resources to provide power in these areas. KPHL is ready to provide power generation solutions for application in SEZ’s being planned in this country.”

“Kumul Petroleum’s commitment was shown by the MOU recently signed between the company and the Ministry of International Trade & Investment – this outlined an agreement to cooperate to ensure that electricity generation can be provided in areas of the country earmarked as SEZ’s.”

Mr Sonk noted that although a major focus for KPHL is promoting greater utilisation of gas available under the Domestic Market Obligations agreed to by the operators of the country’s LNG developments, the most appropriate power solutions will depend on the particular SEZ location. This could include the use of renewable energy sources such as hydro, wind, solar or geothermal directly or in co-generation.

Mr Wapu Sonk continued,” KPHL understands that until such time as PNG’s renewable resources can be fully harnessed for power generation, the country should utilise its domestic gas as an interim fuel to generate electricity, as a greener alternative to liquid fuels.”

“Kumul Petroleum looks forward to working in partnership with others in the energy sector, particularly those that lead to a future situation where the majority of the country is powered by green and sustainable energy sources. An example is our MOU with the New Ireland Provincial Government to investigate the feasibility of installing a 5MW solar facility to provide electricity to Kavieng township and surrounding communities.”

“Another example being investigated by Kumul Petroleum is the feasibility of using domestic gas in a Floating Storage & Regasification Plant in Morobe that could be used to produce power for the Labu SEZ, along with co-generation from hydro.”