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Gold/Mining/Energy : Lundin Oil (LOILY, LOILB Sweden) -- Ignore unavailable to you. Want to Upgrade?

To: Tomas who wrote (1658)	5/23/2000 8:54:00 PM
From: Tomas	Read Replies (1) \| Respond to of 2742

PNG: Queensland State Government to Reveal Gas Strategy, Paper Says By Stephen Wisenthal Brisbane, Australia, May 24 (Bloomberg) -- The Queensland state government will today release its strategy for using more natural gas to generate power, the Courier-Mail said, citing Queensland Premier Peter Beattie. Using gas instead of coal will back up the government's support for the proposed US$3.5 billion PNG Gas project to pipe gas from Papua New Guinea to Queensland, the paper said. The state government's strategy is expected to set a target for using natural gas in power stations, and contain measures to improve the competitiveness of mostly state-owned coal- fired power stations that produce almost all of Queensland's power, the paper said. Oil Search Ltd. and Chevron Corp. said last month they reached an agreement that will make Exxon Mobil Corp. and Santos Ltd. full participants in the PNG Gas project, one of the largest energy developments currently being planned in Asia. (Courier-Mail, May 24, p.7)