Karenga Kua, PNG’s Petroleum Minister, attended a virtual meeting with China’s Sinopec in Beijing recently. Minister Kua and Wapu Sonk, the Managing Director of Kumul Petroleum, met with the Senior Vice President of Sinopec to discuss various aspects of Papua New Guinea’s petroleum business.

Among the topics discussed were Sinopec’s interest in additional long-term LNG contracts for the PNG LNG project. The Chinese petroleum giant was the first LNG customer of the project and has a 2MPTA long-term contract (20 years). It is now looking for other contracts for the PNG LNG projects, which will begin FEED in mid-2022.

Sinopec also wanted to explore ways to partner and invest in upstream and downstream processes for existing projects and also for new licenses.

Minister Kua said he would help Sinopec with their entry into PNG’s petroleum business. He also urged them to engage and discuss matters further with Papua New Guinea’s national oil company, Kumul Petroleum Holdings Ltd.

Mr Wapu Sonk, the MD of Kumul Petroleum, will follow through with Sinopec and develop a working group. He will also expedite the Papua LNG project LNG Market, Upstream and Downstream Partnership. Other topics included blue and green energy projects in the country.