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Gold/Mining/Energy : Lundin Oil (LOILY, LOILB Sweden)
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To: Tomas who wrote (2086)3/4/2001 8:06:42 PM
From: Tomas  Read Replies (1) of 2742
 
Papua New Guinea: Capitalise on optimism for our gas
The National, March 5

NATIONAL Gas Corporation (NGC) chairman Alfred Kaiabe says the Australia Pipeline Trust's optimistic views on supplying Australia with Timor and PNG gas is positive news for the PNG Government and its project partners.
Mr Kaiabe said in a statement that the Queensland state election results was a positive outcome for the PNG Gas project because the Beattie government was an advocate of the project.

The project was no longer "a window of opportunity" but "the road to opportunity" which now required the support and commitment of the Government and NGC shareholders.

"Since the Queensland state elections are over, project sponsors should commence discussions with PNG and Queensland governments for their approval and commence discussions with customers," he said.
Mr Kaiabe, who is Komo-Magarima MP, is also chairman of Special Parliamentary Committee for Gas and Energy Development and Utilisation (GEDU).

He said the recent delay was a blessing in disguise for the country's participation because provincial governments and landowners, as represented by the NGC, were technically and financially not ready to participate due to the lack support and commitment from the government and other quarters.

Mr Kaiabe said the NGC is in the process of reorganising itself towards holding dialogues with all interested parties including developers.
It was also in the process of putting a team of competent and professional people together to spearhead all project negotiations.
Mr Kaiabe said Waigani will be asked to fund both the NGC and GEDU offices.
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