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Gold/Mining/Energy : Lundin Oil (LOILY, LOILB Sweden)
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To: Tomas who wrote (1780)8/7/2000 10:26:22 PM
From: Tomas  Read Replies (2) of 2742
 
Exxon Ups PNG Pipeline Ante - The Courier-Mail, August 5
BY JOHN MCCARTHY

Exxon, a major partner in the Papua New Guinea to Queensland gas pipeline, is demanding new terms of agreement from customers. Exxon, which controls around 25 percent of the project, bypassed Energex to deal directly with Comalco, in an attempt to have it accept a price increase and more of the risk in the project.

Exxon and Chevron held meetings with customers in the week commencing 31 July 2000. It is believed Exxon is trying to force companies to commit to the project. Supply of gas was a major factor in Comalco selecting Gladstone as the site for its proposed $A1.4bn refinery.
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