Third LNG train expected, says minister
Source:
The National,Friday March 18th, 2016
THE Government will make a major statement on a third liquefied natural gas train and the Papua LNG project, says Petroleum and Energy Minister Ben Micah.
Micah said this would be a confidence booster for the country despite the low prices on the world market and a glut of supply.
“I will be making, after consultation with the prime minister, a major announcement on the PNG LNG project third train and the Papua LNG project,” he told The National.
“In spite of all these things, we are going to pull off these projects.”
Micah said buyers, investors and financiers were ready for the projects.
“We will be announcing a final investment decision (for Papua LNG Project) next year, and we will be ready to deliver gas when business is coming back,” he said.
“Prices are expected to leap to US$50-60 per barrel.”
Micah said the current low prices and glut on the world market was no excuse for PNG to be complacent. He said PNG would soon have five LNG trains in the next three years – three for the PNG LNG project and two for the Papua LNG project.
“We’ll be delivering LNG cargo (from Papua) by the time the market evens out and prices will stabilise,” Micah said. “We are not going to sit around and wait for the prices to go up. We are going to deliver another three trains of gas.”

'Libtardius Maximus' pid='72455' datel Wrote:This was just 3 months ago tomorrow. 5 Trains, 1 for PNG LNG and 2 for Papua LNG. So riddle me this...where is all this gas going to come from?

That's the point everyone is missing.   The critical need of the entire PNG LNG future is INTEROIL NAT GAS.   WITHOUT THAT, THE PNG LNG FUTURE, GOVT AND ALL, MOVES MUCH SLOW , IF AT ALL.....IT'S THE KEY TO THE WHOLE BALL OF WAX  OVER THERE. imo

'trans' pid='72456' datel Wrote:

'Libtardius Maximus' pid='72455' datel Wrote:This was just 3 months ago tomorrow. 5 Trains, 1 for PNG LNG and 2 for Papua LNG. So riddle me this...where is all this gas going to come from?

That's the point everyone is missing.   The critical need of the entire PNG LNG future is INTEROIL NAT GAS.   WITHOUT THAT, THE PNG LNG FUTURE, GOVT AND ALL, MOVES MUCH SLOW , IF AT ALL.....IT'S THE KEY TO THE WHOLE BALL OF WAX  OVER THERE. imo

THey (not us) have known for months, maybe a year or more, that there is a huge amount of gas here. It (EA) was discovered in 2009. And they have studied it ad nauseum for years. If they let the results out the stock price will go thru the roof. A higher stock price will inhibit Hession's pay day. He does not own stock that he has paid for. Screwing us is the best way for Hession to get paid with the least amount of risk for him. He works for us. He has a fiduciary responsibility to us. He won't even tell us the results of all of our testing. He has given it to everyone but us. Vote no to the deal.