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Gold/Mining/Energy : Lundin Oil (LOILY, LOILB Sweden)
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To: Tomas who wrote (1304)9/14/1999 7:26:00 AM
From: Tomas  Read Replies (1) of 2742
 
Thailand, Malaysia to Build $1 Billion Pipeline to Distribute Natural Gas

Bangkok, Sept. 14 (Bloomberg) -- Thailand and Malaysia plan
to build a 41 billion baht ($1.04 billion) natural gas pipeline
and separation plant to distribute gas from offshore areas being
developed jointly by both nations.

Petroleum Authority of Thailand and Petroliam Nasional Bhd.,
the state-controlled oil companies of Thailand and Malaysia, each
plan to invest $156 million in the project, with the remainder to
come from loans.
``The project shows commitment between Thailand and Malaysia
for joint economic cooperation,' Industry Minister Suwat
Liptapallop said after a Thai Cabinet meeting, which formally
approved PTT's investment in the project.

Construction of the natural gas separation plant and
pipeline linking southern Thailand and northern Malaysia is
expected to begin next year with commercial production starting
in late 2001. The project is scheduled to be completed in 2007

Thailand and Malaysia have joint exploration and production
of natural gas in the Gulf of Thailand through the Malaysia-
Thailand Joint Development Area program.

The JDA covers 7,250 square kilometers, which is about
double the size of Rhode Island, with estimated natural gas
reserves of more than 10 trillion cubic feet.

quote.bloomberg.com
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