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

To: Tomas who wrote (1081)	5/15/1999 8:52:00 PM
From: Greywolf	Read Replies (1) \| Respond to of 2742

Gas broadside for Oz coal, Coal has traditionally been the energy base for the land of OZ, yet for anyone who has been to the coal field's around Newcastle etc know it's a far way from clean. There is a push for the environment in Oz and that's where gas has it's premium. Queensland want's to make the big economic push into Asia and the State Premier was even on CNN a few day's ago saying just that. The gas from PNG - cheap clean and available makes more sense than digging up more coal. Especially as Queensland want's Asians to build factory's and other ventures in the state, a state that is mighty close to the engines of South East Asia - mighty close! THE AUSTRALIAN gas industry is lobbying the federal government to impose a moratorium on the construction of new coal-fired power plants until Canberra comes up with a formal greenhouse-gas policy in coming months. Earlier this week, the Australian Co-generation Association called on the government to reject an application by Intergen Operating Company to build an 850-megawatt coal-fired power station at Millmerran, Queensland. The association s chairman in the state Charles Brown said Millmerran and similar projects including Kogan Creek, Tarong and Wandoan would derail major gas developments such as Chevron s Papua New Guinea-to-Queensland pipeline from Kutubu and Hides, and contribute to more greenhouse gases. "Before licences and approvals for these coal-fired projects are granted, the government must thoroughly assess the ramifications for energy and greenhouse policy," Brown said. "Such coal-fired projects will displace higher efficiency, lower emission-producing technologies, including gas-fired projects now under development and consideration in Queensland; projects that underpin the development of new gas infrastructure, including the PNG pipeline," he added. According to the ACA, the Millmerran project will emit more than 6 million tonnes of carbon dioxide a year. Meanwhile, Chevron Asiatic has fired off its own submission to Canberra. Company spokesman Cliff Leggoe said: "Allowing the development of large coal-based power plants is no way for Australia to meet the Kyoto greenhouse emissions targets." While Chevron s marketing plans for PNG Gas assume that one or two new coal-fired plants will emerge in Queensland, the incremental volume of coal-based electricity will make its efforts more difficult, he added. The company needs to secure bankable sale-and-purchase agreements by June in order to get its PNG Gas project off the ground. Any further delays will mean additional competition and lost customers. In a twist to its marketing strategy, Chevron is no longer betting on alumina refiner Comalco to provide the baseload demand. Instead, it is scouring for potential customers all the way down to south-east Queensland, where demand is high and competition scarce. Leggoe said he was "very confident" that sufficient contracts will be clinched by the June deadline. upstream.tm