Tuesday 22 October 2024
Prime Minister James Marape, addressing the Petroleum and Energy Conference at the Hilton Hotel on Thursday 17 October 2024. (photo credit: PM’s Media).
Prime Minister Hon. James Marape has emphasised the urgent need for Papua New Guinea to be among global leaders to shift to cleaner energy without delay, with his government now seeking out investors to participate in cleaner energy solutions.
In his address at the recent 2024 Petroleum and Energy Conference at the Hilton Port Moresby, Prime Minister reaffirmed his government’s focus on cleaner energy, while at the same time, offering incentives and protections to investors to secure their investment in country .
“I want to assure you that whatever regime shifts we embark upon, one thing is certain, and that is, our provisions to protect our investors making a healthy return on their investments will always be protected.”
The Prime Minister is adamant in opening up more liquified natural gas (LNG) as transitional energy and eventually move to cleaner energy sources, while moving away from coal production and other heavy fossil fuels.
“I firmly believe that liquified natural gas (LNG) is the best energy source for transition between now and life after 2050, if we are to keep Mother Earth.
“ LNG is cleaner, more efficient, and aligns with our goal of reducing carbon emissions. It is the lowest hanging fruit in terms of transitional energy with availability of technologies and present use including diversification of LNG to fuel,” Mr Marape added.
Whist LNG remains the better option cleaner transitional energy choice, Prime Minister also offered PNG’s vast potential in generating clean energy from hydro, thermal, and solar sources, to those who want to venture into future renewable energies in line with environmental stewardship as “our present moral responsibility toward our earth’s future.”
“PNG is getting our house in order to “think globally and act locally”. PNG is a carbon-negative country. Our forest have over 100 million metric tons of carbon absorption capacity, our own carbon foot print remains under 10 million metric tonnes, and despite the high cost of energy, we choose to differ now and into the future.
“We want to remain a clean green country and we want to make and lead this transition to clean energy,” said Prime Minister.
He added, “As we work toward a cleaner energy future, research into cost-effective alternatives remain crucial, however, we cannot delay transitioning to LNG and other renewable sources. We must act now to reduce our reliance on coal and heavy oil/fuels.”
The Petroleum and Energy Conference was held at the Hilton Hotel , Port Moresby, from 17 – 18 October, and attended by both local and international participants.