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+--- Thread: Kogas-Japex-Mitsui lashup (/showthread.php?tid=347)
- jft310 - 02-07-2012
I think we get EWC/Mitsui and FLEX and Kogas learns to build an additional stick built plant. As I detailed seperately this AM. My best guess.
- Palm - 02-07-2012
So, we've been pounding the table for 2 years that JAPEX would be in this project based on the agreement they signed with Petromin in April 2010. The big part of this was funding Petromin's share of their equity. But many have doubted. Guess what? It's happening. As well KOGAS. They and Japan (specifically Mitsui) have worked together many times and trust each other. Recently SC and PNG struck an agreement to work together and it was obvious they want KOGAS involved as well as to back Samsung and Daewoo with the FLNG's. Wouldn't at all be surprised that as part of this we get that 2nd FLNG which would draw Petromin and IOC back together. Success for everyone.
We would be wrong if this does come about to not recognize Somare's contribution to this whole partnership. It was he who traveled to Japan in March 2010 for the Japan-PNG Summit along with Petromin, IOC and others to sign agreements, acknowledge the long history of Japan and PNG, open up the new embassy there and bring home these agreements for Petromin and PNG.
Great find Maui!! Here's to all that have stuck together through this in the face of many critics and crooks. This could get fun once again!
- Tree - 02-07-2012
Yup we keep Gulf LNG as configured with these guys. They are the end users and price is king for them. Profit in the integrated value chain goes a long way in keeping their prices low. Think about it, if ennerOle were to allow EWC/Flex to be booted and replaced with a 16$ billion plant then IOC would need to cough up 4$ billion to keep a 25% stake and Pac LNG at least a couple billion. In return ennerOle would get a smaller ROI too. Logic says 'No way Jose' on that proposition, it ain't happening.
- efi426hemi - 02-07-2012
MauiYourTimingCouldntBeBetterMarko,
I would be super stoked to have this scenario unfold. Bidding must be heating up with BP announcing they are in the fold yesterday too!
The next couple of months should be very exciting!
Health and Happiness,
efi
- Palm - 02-07-2012
Ken, that was one heck of a post from this AM! Missed it, but just read it! You and all of your "lies". Hohoho
- Tree - 02-07-2012
Gee Palm,
I sure hope Duma doesn't come out and decree Kogas to be an unsuitable LNG operator and for JAPEX to be too risky for upstream investment!!!
Duma is god after all and he sincerely changed his mind from earlier support of Gulf LNG to wanting it shelved!!
- Palm - 02-07-2012
Treedaddy, Mr Duma will be very happy with this; while they are in office this comes together. He called this "his" project given tohimby Somare. Petromin can hardly say "no":
"Papua New Guinea ’s national, oil, gas and minerals company Petromin PNG Holdings Limited(Petromin) has entered into a long-term strategic partnership arrangement with Japan Petroleum Exploration Co., Ltd (Japex).
Japex is a publicly listed company and partly owned by the Japanese Government. It is the exploration and development company with oil and LNG interests in Japan and other parts of the world.
The Agreement on Principles for a Long-term Strategic Partnership was signed in Tokyo on Tuesday 30th March, 2010 in the presence of the Prime Minister, Grand Chief Sir Michael Somare by the President of Japex, Mr Osamu Watanabe and Managing Director of Petromin, Mr. Joshua Kalinoe.
In the signing ceremony, Mr. Kalinoe said the purpose and intent of the Agreement is significant for Petromin because of the value it will bring to the development efforts of the company in both operational and human resource development. Mr. Kalinoe said the Agreement allows Japex and Petromin to work together in assessing the development opportunities in the hydro -carbon business in Papua New Guinea , both at exploration and development stages. Japex will train Petromin staff in all aspects of the hydro-carbon business, including commercial and technical operations using Japex facilities in Japan and elsewhere.
Mr. Kalinoe said both Japex and Petromin have agreed to form a relationship that would also facilitate Petromin’s financial obligations in exploration and development, including the Elk/Antelop LNG project.
As part of the strategic partnership agreement, a number of technical staff from Petromin will be travelling to Japan in April to work with Japex’s staff on LNG project design and planning, including reservoir management and modelling.
Mr. Kalinoe said, he is excited about the long-term benefit that this relationship with Japex will bring to the capacity building needs of Petromin in both human resource development and technology transfer."
http://www.petrominpng.com.pg/news/press/petromin%20-%20signs%20-%20principle%20-%20agreement%20-%20with%20-%20japex.html
- Palm - 02-07-2012
You don't suppose this could be a "Bidders Be 'Ware" volly by Japan and S Korea do you? This "leaks" out to press after several months of these 2 countries mentioning how much money is in their coffers to secure energy assets.
- Tree - 02-07-2012
Gee Palm,
Remember we were told by posters with super secret inside info and corroborations with each other and new knowledgeable posters that EWC was surely to be 'kicked to the curb'??? Well with Jobama verbally claiming turf in PNG and IOC specifically I hope Jobama doesn't have a problem with stooopid modular, fragmented guinea pig technology!!!
- Palm - 02-07-2012
Well Treemod I believe it was Japan that did a very comprehensive study a few years back specifically on modular LNG plants in PNG to see whether they could work. Conclusion was, "YES" in Japanese. Maybe your taproot could do some digging and yank that up for us>