1 week Ago By Gorethy Kenneth
INTERNATIONAL Trade Minister Richard Maru last Friday told the 2024 National Petroleum and Energy Conference that PNG had a very serious energy crisis. He said the conference could talk about all the good things about the industry but the critical failures of the energy sector had resulted in many setbacks. In his presentation his high light question was: “Where are we 49 years on?” Highlighting “Black Out, Black Out, Black Out!” “PNG is a resource rich nation- with nine major resource projects in operation – OK Tedi mining, Harmony Hidden Valley Mine, St Barbara Simberi gold, Porgera Joint Venture (Gold and Silver), New crest Lihir, Ramu Nico, Tolukum Gold mine, K92 and PNG LNG to name a few,” he presented.
“Despite all the resources we must generate energy, we are unable to deliver clean, reliable, affordable and profitable supply in the country. “This is not normal compared with the rest of the world, but we act as normal, PNG cannot move forward without solving our energy crisis now.” “Despite these projects we still have serious foreign exchange challenges, highest law and order issues, highest unemployment ever since independence, highest cost of living, currency K1 equals AU$0.
38 cents, highest inflation and the UN Humanitarian development index currently places PNG at 155th out of 189 countries, much lower than other Pacific Island countries.” “Critical failures have resulted in being unable to improve the lives of our people, unable to attract investors, not able to unleash our full economic potential and unable to start new industries and projects which are electricity dependent,” he said. “Challenges in the energy sector in PNG: High costs in providing electricity services, continuous power blackouts/unavailability, rundown infrastructures, unclean energy supply – fossil fuels, limited renewable electricity supplies, limited solar and hybrid solutions and limited energy expansion.
“PNG compared to other countries in energy supply –PNG’s energy source – hydropower 39.7 per cent, diesel 37. 4 per cent, fossil gas14.
1 per cent, geothermal 9.1 per cent. The country’s total power coverage is 19 per cent compared to Indonesia 99.
78 per cent, Australia 100 per cent and Philippines 97.49 per cent.” “Nationwide power coverage is 19 per cent – monopoly in supplying power, experience continuous power blackouts in all parts of the PNG except Port Moresby, despite all resources we have to generate power, only Port Moresby, Lae and Gazelle, are profitable power business for PNG Power Ltd,” he said.
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