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

To: Tomas who wrote (912)	2/1/1999 6:07:00 PM
From: Tomas	Read Replies (1) \| Respond to of 2742

Aussie commitment to the Papua New Guinea-Queensland gas pipeline project The National, February 2 Comalco aid shows Aussie commitment, says Namaliu PORT MORESBY: The Australian Government's A$100 million (K135 million) support package for Comalco Ltd's Gladstone alumina refinery project is a sign of Australia's commitment to the PNG-Queensland gas pipeline project. Petroleum and Energy Minister Sir Rabbie Namaliu said the support package was an important step forward for the gas pipeline because the alumina refinery would be a major user of PNG-sourced gas. The PNG, Australian and Queensland governments "have done everything possible to make the K4 billion pipeline a reality in the future". Sir Rabbie said he and Prime Minister Bill Skate recently also held talks with Queensland's major electricity supplier, Energex, which potentially could be an even bigger user of natural gas from PNG than the proposed alumina refinery. Noting that the gas pipeline was crucial to development of PNG's gas resources, he said the construction phase would generate 2,500 jobs in PNG and a similar number in Queensland. "The economic benefits of the pipeline project will begin before the gas starts flowing to Queensland. Once we start supplying gas, then National Government revenue will receive the largest ever boost," he said. Sir Rabbie said he hoped the partners in the pipeline project would be able to resolve outstanding issues as soon as possible so the go ahead can be given for the largest infrastructure project ever undertaken in Papua New Guinea or Northern Australia. He said the PNG gas legislation that was passed last year had been widely applauded for the security and certainty it gave potential investors in the gas industry. While strengthening investor confidence, it "also provides a new deal for landowners and provincial governments", he said. wr.com.au