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

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To: Tomas who wrote (2541)	6/19/2001 11:36:47 PM
From: Tomas	Read Replies (1) of 2742

Papua New Guinea: ExxonMobil upbeat on pipeline project The National, June 20 EXXONMOBIL, the developer of the PNG-Queensland gas pipeline, yesterday reaffirmed its commitment to the project and said it is negotiating with customers in Queensland with a view to having some firm contracts signed as soon as possible. The senior vice-president of ExxonMobil, Harry Longwell, reiterated the company's strong desire to get the project off the ground during a meeting with Prime Minister Sir Mekere Morauta in Port Moresby yesterday. Sir Mekere released a statement after the meeting to say he was encouraged by ExxonMobil's strong commitment to the gas project. The company assured the Prime Minister that as soon as it entered into sales contracts with customers, it would move on to front-end design and engineering. Sir Mekere said ExxonMobil's confidence that the project would proceed was encouraging news for the nation. "This project has potential to transform our national economy by underpinning a long-term revenue flow," said the Prime Minister. "The Government recently renewed its intention to have the project proceed as quickly as possible and has backed this up with the appointment of Mr Charles Lepani as the Government's project coordinator and Minister Moi Avei as prime ministerial delegate as chairman of the Ministerial Gas Committee. "I expect to be able to detail the results of my discussions with ExxonMobil to the National Executive Council when it meets to consider a paper on the project on Thursday (tomorrow). "This will lead to the resolution of the final few issues that remain in relation to the project," said Sir Mekere. zipworld.com.au

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