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

To: Tomas who wrote (914)	2/1/1999 8:06:00 PM
From: Tomas	Respond to of 2742

Papua New Guinea: Pipeline project extending to Brisbane? Energex seems to be key in Brisbane extension decision PostCourier, February 2 OIL SEARCH yesterday flagged the possibility of the pipeline project extending to Brisbane if energy retailer Energex signs up as a customer. Mr Botten said discussions with the Queensland-government owned Energex regarding the supply of gas to the Brisbane and southeast Queensland markets had been underway for the past three-to-four months. ''They have reached an advanced stage,'' he said. Energex has been looking at various options for subsidiary Allgas Energy, acquired for $A250 million last year, to purchase gas from PNG, an Energex spokeswoman said. She would not elaborate on negotiations. ''Energex have indicated that they may wish to contract up to 35 petajoules of gas, making them one of the largest customers for PNG gas,'' Oil Search said in its fourth quarter activities report, released yesterday. Some sources suggest Energex could become an integrator, taking a large quantity of gas and onselling it to smaller customers. A high level delegation from Energex visited Papua New Guinea in January to inspect operating areas and hold discussions with the PNG government. ''Initial review of transportation arrangements for the delivery of gas into SE Queensland indicates that PNG gas can be highly competitive with existing supplies to those markets,'' Oil Search said yesterday. The current path for the proposed $A3 billion PNG to Queensland gas pipeline is from the southern highlands of PNG to Gladstone on the central Queensland coast. Mr Botten said a further link to Brisbane could be built ''contemporaneously''. ''Importantly for us it would open up a substantial new set of markets and that's very important,'' he said. postcourier.com.pg