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Gold/Mining/Energy : Lundin Oil (LOILY, LOILB Sweden)

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To: Tomas who wrote (1213)	7/27/1999 8:54:00 PM
From: Tomas	of 2742

More signings for PNG gas expected. First gas is now expected by late 2002 PostCourier, July 28 THE joint venture partners in the PNG Gas project are close to securing a sale agreement with the Queensland government owned Ergon Energy to supply gas to North Queensland, a senior official said yesterday. Chevron Services Australia Pty Ltd, Cliff Leggoe, external affairs manager for the project operator said the deal will secure the supply of about 50 petajoules to customers in north Queensland. Mr Leggoe was speaking to the Post-Courier after the signing of preliminary agreements between the project partners and foundation customers in Brisbane yesterday. Gas for the project will initially flow from the Kutubu and Gobe fields and later from Hides. Around 20 petajoules of gas has been allocated for the first stage of Comalco's proposed refinery and Sithe Energies subsidiary will take 14 to 22 petajoules a year for its 350-400 megawatt Gibson Island Cogeneration Plant near the mouth of the Brisbane River. ''Gibson Island is now set to become a foundation customer for PNG gas, ensuring the PNG gas pipeline comes directly to Brisbane,'' the company said. AGL managing director Len Bleasel said it was working with project sponsors to decide on the most satisfactory route to deliver gas into the Brisbane market. AGL and joint venture partner Petronas won the $1.5 billion contract to build, own and operate the 2100 kilometre pipeline from the PNG border to Gladstone. ''We are now studying various delivery options, including the possible construction of a new pipeline direct from Gladstone into Brisbane,'' Mr Bleasel said. First gas is now expected by late 2002, Mr Leggoe said. It was congratulations all around yesterday following the signing with Energex. PNG Gas project director Dr John Powell welcome the signing of the preliminary agreements. Former Petroleum and Energy minister Sir Rabbie Namaliu said the extension of the pipeline to Brisbane will not only benefit customers, but would also assist the development of the PNG gas industry. postcourier.com.pg

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