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Gold/Mining/Energy : Lundin Oil (LOILY, LOILB Sweden)
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To: Tomas who wrote (1422)12/1/1999 11:40:00 AM
From: Tomas  Read Replies (2) of 2742
 
$3B PNG Gas Pipeline Start A Step Closer
The Courier-Mail, December 1

The proposed $US3.5 billion Papua New Guinea to Australia natural gas
pipeline may be closer to realisation. The Queensland Government owned
utility Energex Limited is expected in early December 1999 to give final
purchase contracts to the backers of the proposed pipeline. These papers for
Oil Search Limited, Orogen Minerals Limited, Chevron Corp, and their
partners, detail agreements first announced in July 1999 to purchase up to
130 petajoules of gas annually over a 20 year period. The contracts would still
be subject to final agreements, with end customers for the gas and other
conditions, according to Energex Limited general manager for corporate
development. Australian Gas Light Company, and Malaysian state oil
company Petroliam Nasional Berhad (Petronas), are set to construct the
$A1.5 billion section of the pipeline down the Queensland coast to Brisbane.
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