SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Gold/Mining/Energy : Lundin Oil (LOILY, LOILB Sweden)
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Greywolf who wrote (961)4/13/1999 9:54:00 PM
From: Tomas  Read Replies (1) of 2742
 
Queensland says Papua New Guinea gas pipeline project to proceed

BRISBANE, April 14 (Reuters) - The A$3.8 billion Papua New Guinea-Australia gas project would proceed, a spokesman for the Australian state government of Queensland said on Wednesday.

The spokesman told Reuters that the decision to proceed followed an agreement struck recently between PNG-based oil and gas producer Oil Search Ltd and pipeline operator Chevron Services Australia Pty Ltd. He did not specify the nature of the agreement.

Oil Search recently took over negotiations from its Hides gas field partner Exxon Corp about the price for gas delivered to the pipeline.

Queensland premier Peter Beattie has scheduled a 12.15 p.m. (0215 GMT) news conference on Wednesday to discuss the future of the project.

Oil Search said in early February it was confident the Hides gas field would be tied into the proposed Papua New Guinea-to-Queensland pipeline project, otherwise the pipeline would not go ahead.

Plans for the pipeline, which was due to be supplied from the Kutubu field, hinge on Comalco Ltd building an alumina refinery in the Queensland coastal city of Gladstone which would use gas from Papua New Guinea. Comalco's decision in turn hinges on the price and stable supply of gas from Papua New Guinea.

The aluminium producer, which is majority owned by Rio Tinto Ltd/Plc has said the smelter could be built in either Gladstone or Sarawak, Malaysia, with a decision due in the early part of 1999.

biz.yahoo.com
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News