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Gold/Mining/Energy : Lundin Oil (LOILY, LOILB Sweden)
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To: Greywolf who wrote (731)9/2/1998 6:16:00 PM
From: Tomas  Read Replies (2) of 2742
 
PNG: "Yet another significant customer underpins the pipeline's construction"
The National, Thursday

BRISBANE: Nickel producer QNI Ltd said yesterday it would reap both economic and environmental benefits from an A$110 million (K144.73 million) cogeneration power plant proposed for its north Queensland refinery.

Christopher Foll, managing director of QNI Resources Pty Ltd, a QNI subsidiary said the project would take up roughly 20 petajoules of gas a year from the proposed PNG-to-Queensland gas pipeline project, earmarked to come on stream in 2001.

Welcoming news of the proposed QNI project, Queensland Mines and Energy Minister Tony McGrady said it added weight to the gas pipeline project.

"Thus all being well, the project should provide yet another significant customer to underpin the pipeline's construction," Mr McGrady said.

Earlier this week, pipeline project operator Chevron Services Australia Pty Ltd had announced a significant milestone, signing a memorandum of understanding with Comalco Ltd, which is considering Gladstone as the site for an A$1.4 billion gas-fired alumina refinery.

Meanwhile, Canadian company TransAlta Energy and Australia's AGL Power Generation yesterday announced plans to pursue a 150 megawatt facility on site at QNI's Yabulu nickel and cobalt refinery near Townsville, replacing an existing coal-fired plant.

The joint venture partners have signed an exclusive development agreement with QNI Resources, which will take up roughly 30 megawatts of the plant's electricity for its Yabulu refinery.
... ...

wr.com.au
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