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

To: Tomas who wrote (781)	10/20/1998 9:38:00 AM
From: Tomas	Read Replies (2) \| Respond to of 2742

Papua New Guinea: Chevron is playing an interesting game. 1. It's important the new gas legislation in Papua New Guinea is passed during the budget session next month, the pipeline project would lose potential customers to competitors if there were further delays. 2. The main obstacle is the Southern Highlands provincial government, they are opposed to the new legislation. They have called on the National Government to drop its proposed amendments. 3. Chevron yesterday said they will give K10 million to the Southern Highlands provincial government to build a new administrative centre. The seven-storey building will house the governor, the deputy governor and senior staff from all departments in the province. It will also include the provincial assembly hall and the provincial executive council chambers. I don't think the new gas legislation is in danger any longer... Take a look at these 3 news releases: PostCourier, October 20 Gas plans may be harmed by any additional delays PARTNERS in the proposed PNG pipeline project are still confident of delivering gas to the Queensland market by the fourth quarter of 2001, project director Dr John Powell said on Friday. However, this schedule would depend on whether the Government passed necessary legislation governing the development and commercialisation of gas in PNG during the November budget session, he said. Any further delays in passing the legislation would mean re-examining schedules. It was also important to capture customers quickly. Without any legislation, Dr Powell said the Department of Petroleum could not negotiate gas sales agreements with the participants and the customers. Dr Powell told the Post-Courier that the Australian federal government was expected to sign off on the environmental impact statement this week. He said the gas pipeline consortium was also expecting firm commitments from Comalco and Queensland Nickel Industries (QNI) this week, following the Federal government's signing off on an incentives package for them to build their own projects in Australia. ''Comalco and QNI are still awaiting more definition of the federal government's support package,'' Dr Powell said in Port Moresby on Friday. He said these had been expected earlier but were delayed by the Australian elections and the subsequent delay in appointing ministers. Australian Prime Minister John Howard announced his new look cabinet on Sunday. Dr Powell stressed that it was important the PNG gas project captured the market by 2001 because both Comalco and the Townsville power generator would need guaranteed supplies by that time. He said this was why it was important the legislation governing the development and commercialisation of gas was passed during the budget session next month. Dr Powell said the project would lose potential customers to competitors if there were further delays. He said the project development agreement signed between the project partners and the Australian Gas Light/Petronas consortium was the first legally-binding deal that had been stitched up. Such agreements with other customers could be obtained if the legislation was in place, he said. 203.22.79.35 ______________________________ PORT MORESBY, October 13: Southern Highlands Gulf Oil and Gas Committee chairman Alfred Kaiabe has called on the National Government to drop its proposed amendment to the Petroleum Act and instead endorse his proposal for a new gas act. He said the amendment to the Petroleum Act was not in the interest of the landowners and the provincial governments because there was no long-term concrete benefit plan for the people and PNG at large. Claiming to have the support of certain members of the National Executive Council and some MPs, Mr Kaiabe said his proposal was in the interests of the provincial government, the resource-owners and the developers. ... ... ... wr.com.au ___________________________ PORT MORESBY, October 19: Chevron Niugini will give K10 million to the Southern Highlands provincial government to build a new administrative centre in Mendi. The proposed multi-storey building will replace the building that was burnt down last year. The contract for the arrangement was formally signed between the Southern Highlands provincial government and Chevron last Friday. Chevron Niugini representative Royce Elliott, said the Southern Highlands provincial administration building will be built under the Kutubu tax credit program. The seven-storey building will house the governor, the deputy governor and senior staff from all departments in the province. It will also include the provincial assembly hall and the provincial executive council chambers. The construction of the building will take 13 months and it is expected to be completed by November next year. The ground breaking ceremony will take place later this month. wr.com.au

To: Tomas who wrote (781)	10/21/1998 9:00:00 AM
From: Tomas	Read Replies (1) \| Respond to of 2742

Libya: Lockerbie suspects ready for trial - Gaddafi (BBC) The Libyan leader, Muammar Gaddafi, says that two men accused of destroying a Pan-American airliner over Scotland ten years ago are willing to face trial in the Netherlands. Colonel Gaddafi told the BBC that it was for a court to decide whether the men were guilty of causing the airliner to explode over the town of Lockerbie, killing nearly three-hundred people. He said that if they were guilty, it was a case of individual revenge for earlier American bombing raids on Libya. Colonel Gaddafi said he felt a trial would lead to an improvement in Libya's relations with Washington. Source: news.bbc.co.uk _____________________________ BBC interviews Gadaffi (Real Player sound & video file) news.bbc.co.uk _____________________________ "Lockerbie suspects could be guilty" - Gaddafi (BBC) Libya now seems to be genuinely looking for ways to break out of it's isolation. See: news.bbc.co.uk