LNG Japan Corporation and Petromin PNG Holdings Ltd to proceed immediately with Memorandum of Understanding signed.

In a joint statement President and CEO of LNG Japan, Mr Kenichi Yonezawa, and Managing Director and CEO of Petromin PNG, Mr Joshua Kalinoe said beginning next year LNG Japan will train two or more Petromin staff on a needs basis to build capacity in all areas of Petromin’s operations.
In addition, at least one LNG Japan staff will be attached to Petromin to build capacity in the area of LNG Development and Project Financing.
The arrangements will be in effect as soon as LNG Japan and Petromin reach an agreement by the end of September 2007.
Petromin CEO Mr Kalinoe is confident that the strategic partnership with LNG Japan will provide the opportunity for Papua New Guineans to access technology and skills to develop the LNG business in the long term.