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

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To: Razorbak who wrote (78)	7/22/1997 2:04:00 AM
From: Tomas	of 2742

Chevron says PNG gas pipe plan on schedule BRISBANE, July 21 (Reuter) - United States energy giant Chevron Corp said a final shortlist of companies tendering to build its A$2 billion gas pipeline between Papua New Guinea (PNG) and Australia will be announced next month with the consortium on track to meet the 2001 delivery date. "We are on track to meet the 2001 delivery date and the two-and-a-half year construction timetable is achievable," Chevron Asiatic Ltd project director John Powell told a gas conference here on Monday. Chevron aims to deliver gas from the Kutubu field in the Southern Highlands of PNG to northern Queensland. Apart from Chevron, the pipeline consortium also includes PNG's Orogen Minerals Ltd (OML.AX) and Oil Search Ltd (OSH.AX), The Broken Hill Pty Co Ltd (BHP.AX) and Mitsubishi Oil Co Ltd (5004.T). Powell said the Queensland government had assured the consortium its public consultancy process aimed at ensuring the project bidding process was appropriate and would be completed by July 28. "I hope the project will not be delayed any longer". Powell said the pipeline project still needed a minimum 600-megawatt base load power station to be built in Townsville in north Queensland for the project to be economically viable. "There will be no pipeline if the base load is not in Townsville". Earlier last month, Chevron and Australian aluminium group Comalco Ltd (CMC.AX) said they would jointly study the potential of extending the pipeline to the Queensland town of Gladstone, one of Comalco's preferred sites for an aluminium refinery project. Malaysia's Sarawak state is the other preferred site for the A$1 billion refinery which Comalco has said may be expanded later into a A$3.5 billion project. Powell said the consortium was already talking to potential gas customers in the Queensland capital of Brisbane. "If we can get to Gladstone, we can feed Brisbane customers," he said. ____________________ Your Man in Sweden

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