Regional LNG: NPCP signs MOU with LNG Japan

By Romel S. Gurky

The National Petroleum Company Papua New Guinea (NPCP) has entered a significant Memorandum of Understanding (MOU) with Japanese petroleum company; LNG Japan Corporation.

The MOU signing entered on Wednesday between NPCP and LNG Japan Corporation sets out the main principals upon which they intend to develop the Marketing, sale and transportation of LNG through a possible Marketing and Shipping joint venture arrangement, NPCP said in a statement.

NPCP Managing Director Wapu Sonk said ?this MOU arrangement, once off the ground will enable NPCP and LNG Japan to collaborate and look for opportunities to market LNG and other Petroleum Products as and when the opportunities arise.?

He further added, although this is a very small step, it?s a significant milestone in the Company?s short history as it looks into Marketing and Shipping opportunities. NPCP will develop in-house training and start exposing its employees through this relationship.

LNG Japan brings financial and technical capabilities as well as years of experience in LNG Marketing to the table and NPCP is very grateful to be working with LNG Japan in exploring opportunities with the Japanese company.

Editing by Johannes Simbolon