Photo credit: Kumul Petroleum
Kumul Petroleum Holdings Limited (KPHL) plans to supply LNG from the coast of Huon Gulf district to power the Wafi-Golpu mine project in Bulolo district, Morobe province. The two business models being pursued are the Floating Storage Regasification and Power (FSRP) unit and the Labu Special Economic Zone project, which will cost an estimated $1.2Bn. KPHL's General Manager, Ephraim Tammy, announced these projects to the Lae business community last week.
In his announcement, Tammy said, "The FSRP unit will provide 200 megawatts of power from the ship up to Wafi-Golpu or the access can be piped back to Lae and it will give reliable costs, competitive energy solutions for Lae. It will give the local grid access power and will give revenue to the state, Morobe provincial government and local landowners." He also added, "The Labu SEZ is estimated to provide up to 20,000 jobs and will give you access to manufacturing and downstream processing, and can increase the Gross Domestic Product (GPD) of the country. We see that area as a chance for us to really bring some development that we can all see and be part of."
Tammy highlighted that the projects aim to address the power reliability issue in Lae and bring more development to the country. He said, "We know there is an issue in Lae with power, we see Lae as the market that we can develop for energy and also bring more development to this country and with these projects, we aim to help the power reliability that we have in Lae."
