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To: Tomas who wrote (1021)	4/19/1999 8:54:00 AM
From: Tomas	Respond to of 2742

Reuters: Papua New Guinea minister throws support behind gas pipeline PERTH, April 19 (Reuters) - Papua New Guinea's Minister for Petroleum and Energy Sir Rabbie Namaliu dispelled doubts on Monday about his country's support for the Chevron Corp (CHV - news) led project to pipe natural gas from PNG to Queensland. He told the annual conference of the Australian Petroleum Production and Exploration Association that the project was ''of vital importance to the PNG economy; so the priority for my government in the short term is to help ensure that this project does move ahead.'' ''The PNG government will support the project wherever it can.'' Doubts have been expressed in the past that some PNG ministers preferred to see gas produced in the PNG Highlands consumed in the country or converted to value-added product such as liquefied natural gas (LNG). There have also been doubts that enough new customers can be found in Queensland for the project. Comalco Ltd , a major potential user at a proposed alumina refinery at Gladstone, is yet to sign a purchase agreement. Namaliu said the gas project would add a completely new dimension to the relations between PNG and Australia. One development would be increased revenue to support the PNG economy with less reliance on Australian development assistance. ''Another significant consequence will be the shift in the balance of trade between the two countries. Currently PNG imports more than we export to Australia. I am confident that the gas project will contribute in a very large way to reversing that trend and in balancing trade.'' biz.yahoo.com

To: Tomas who wrote (1021)	4/20/1999 9:39:00 PM
From: Tomas	Respond to of 2742

Woodside keen to increase its exposure to Papua New Guinea Australian Financial Review, Wednesday April 21 Woodside coy on Oil Search but keen on PNG By Ian Howarth, Resources Editor Woodside Petroleum has refused to comment on the prospect of a merger deal with Oil Search Ltd but has confirmed that the company is keen to increase its exposure to Papua New Guinea through exploration. "We'd like to participate to a greater extent [in PNG] through our own interests in PNG," Woodside managing director Mr John Akehurst said yesterday. But he would not "comment on market speculation and rumour", about any possible merger or bid for Oil Search. Woodside holds a minimum of 3 million and possibly as many as 4.2 million Oil Search shares - less than 1 per cent of the company. Mr Akehurst said Woodside was keenly interested in some new PNG exploration acreage soon to be released for bids by the oil industry. Woodside would also look to acquire some current permits when they were relinquished within the next few years. Senior PNG sources said yesterday it would be very hard for any company to launch an unsolicited takeover offer for Oil Search given the company's position as one of the nation's icons. But the sources, who declined to be named, said a friendly merger, in which the Oil Search board embraced a new partner, could have a considerably stronger chance of success. Oil Search is a key player in the $5 billion plan to build a gas pipeline from PNG to Queensland to create a market for abundant but essentially static PNG gas reserves. The move into PNG follows a number of recent initiatives by Woodside to develop a range of interests away from its reliance on the North-West Shelf gas project. In recent weeks Woodside has moved into Victoria, acquiring a 20 per cent stake in the undeveloped Kipper gas field in Bass Strait. Mr Akehurst said a joint venture between Woodside, Shell, Esso and BHP Petroleum would be a powerful alliance and could make a significant new contribution to the eastern States gas market. ... ... ... afr.com.au

To: Tomas who wrote (1021)	4/20/1999 9:51:00 PM
From: Tomas	Read Replies (1) \| Respond to of 2742

The Australian: Gas will inflate Papua New Guinea By DAMON FRITH, April 20 THE development of a proposed $3.5 billion gas pipeline from Papua New Guinea to Queensland would reduce the country's reliance on Australian development aid, PNG's Petroleum Minister Rabbie Namaliu said yesterday. Speaking in Perth at the Australian Petroleum Production and Exploration Association conference, Sir Rabbie said the project would also significantly change the trade imbalance between the countries. The PNG economy has suffered in recent years because of falling oil production and lower mineral prices. Australia provides around $340 million a year in aid to PNG. The PNG Gas Project is a Chevron-led proposal to develop trillions of cubic feet of gas trapped in the Highlands. The country does not have sufficient industry to justify a stand-alone domestic development but a 2600km pipeline running down the east coast of Australia to Gladstone and possibly Brisbane would open up new industries for PNG. Sir Rabbie said last week's announcement that the Exxon-operated Hides gas field had been brought into the development of the existing Kutubu gas field meant reserves to justify a 30-year project were in place. He said the development still required a raft of government approvals but the gas project "is of vital importance to the PNG economy, so the priority for my Government in the short term is to help ensure that this project does move ahead". Sir Rabbie said oil production from the Kutubu field was declining and national output would fall further as oil production from the Gobe field entered its twilight years. theaustralian.com.au _______________________________________ Papua New Guinea: Developing gas reserves 'is vital' The National, Wednesday April 21 By NIKINTS TIPTIP PORT MORESBY: Falling oil production from Kutubu and an impending drop from Gobe has made it imperative that the country's large gas reserves are developed quickly, Petroleum and Energy Minister Sir Rabbie Namaliu said yesterday. He was speaking at the 40th conference of the Australian Petroleum Production and Exploration Association (APPEA) in Perth. Sir Rabbie expressed hope that by the time APPEA meets again next year in Brisbane work would have started on the PNG to Queensland gas pipeline project, which he described as "world class". Delivering the keynote address to 1,300 participants at APPEA's biggest annual conference to date, Sir Rabbie said that the concrete gravity structure built in the Gulf of Papua in conjunction with the PNG to Queensland gas pipeline "will have the capacity to produce up to one million tonnes of Liquefied Petroleum Gas (LPG) a year". ... ... wr.com.au