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

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To: Tomas who wrote (1224)	8/11/1999 10:22:00 PM
From: Tomas	Read Replies (2) of 2742

Queensland - Papua New Guinea gas project agreement signing today. "The second biggest project in Australia's history" BRISBANE: Proposals for a natural gas pipeline from Papua New Guinea would take another step forward with the signing of an agreement with the PNG Government today, Premier Peter Beattie said last night. He said the agreement would further cement relationships with PNG and facilitate plans for the pipeline, which would carry gas from the PNG highlands more than 2,600 km to Townsville and Gladstone. "This pipeline, an A$4 billion (K7.2 billion) project, is the most exciting project in Australia after the Snowy Mountains scheme," Mr Beattie said, just before flying out of Brisbane for Port Moresby. "It is the second biggest project in Australia's history if we can get it off the ground." He said he believed the issues of sovereignty and changes of government in PNG would not affect the proposed scheme. "I don't think they are of major concern because the Chevron oil project has survived a number of changes of government in PNG - this is a parallel project, except it's in gas. "I'm not concerned about sovereignty issues. But clearly we need to make certain there is ongoing cooperation between the Queensland Government and the PNG government to make this happen and that is the reason we are signing this agreement to further the pipeline. It's an agreement to work together to facilitate the outcome and we will do just that." Mr Beattie said the talks with new PNG prime minister Sir Mekere Morauta would also cover a limited exchange of public servants to continue the close association between PNG and Queensland. "This is a cementing of the relationship and facilitation to make the pipeline happen," he said. -AAP wr.com.au

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