(MENAFN - Qatar News Agency) shington April 19 - A powerful earthquake measuring 6.9 magnitude on the Richter scale struck off Papua New Guinea's Bougainville Island on Saturday but there was no risk of a widespread tsunami seismologists said. The quake hit at 0104 GMT and was centred 62 kilometres (38 miles) southwest of the town of Panguna on Bougainville at a depth of 45 kilometres the US Geological Survey said. In its initial estimate the USGS said there was a low likelihood of casualties and damage. According to the Hawaii-based Pacific Tsunami Warning Center there was no threat of a destructive widespread tsunami based on historical data. Geoscience Australia measured the quake at magnitude 7.0 and said it was probably felt within a wide radius with the potential for localised shaking damage. Seismologist Emma Mathews said it was the latest in a recent cluster of earthquakes in the Panguna region with five events recorded in the past week including powerful magnitude 7.6 and 7.5 tremors that triggered a local tsunami alert. The rumblings sparked panic in the Solomons capital Honiara reeling from floods earlier this month that claimed at least 21 lives. Quakes of such magnitude are common in PNG which sits on the so-called Pacific "Ring of Fire" a hotspot for seismic activity due to friction between tectonic plates. In October a 7.1-magnitude quake struck in the same area -- around 65 kilometres west of Panguna. Last year in February the remote town of Lata in the Solomons was hit by a devastating tsunami after an 8.0-magnitude earthquake. The tsunami left at least 10 people dead destroyed hundreds of homes and left thousands of people homeless.