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+--- Thread: PNG LNG update (/showthread.php?tid=1654)
PNG LNG update - Tree - 09-21-2012
Operator of the multi-billion Liquefied Natural Gas Project, Esso Highlands Limited, have spent almost K5 billion (US$2.4 billion) in PNG to date.
The money was in the form of project related spending with landowner companies (Lanco) and non-lanco suppliers.
This was according to the PNG LNG Quarterly Environmental and Social Report for the second quarter.
The report stated that the work of the Enterprise Centre at the Institute of Business Management (IBBM) and the project’s business development team has played an important role in promoting local participation in the project with approximately K183 million (US$85.7 million) in project related spend with Lancos in the second quarter of this year and K1 billion to date.
Meanwhile, at Thursday’s PNG LNG Media update workshop, hosted by EHL, Lead Media and Communications Adviser Rebecca Arnold said work progress on the project sites are going well.
Arnold said the 407 kilometre offshore pipeline installation was completed.
She said more than 800metres of runway length at the Komo Airfield was completed.
She said the outer shells and roof installation for the two LNG tanks have been completed.
The 2. 4 kilometres jetty trestle outside Port Moresby that will transport the LNG out to the tankers have also been completed.
The US$15.7 billion project involves the construction of gas production and processing facilities in the Southern Highlands, Hela and Western Provinces of PNG.
It encompasses liquefaction and storage facilities (outside Port Moresby) with a capacity of 6.6 million tonnes per year.
More than 700 kilometres of pipeline will connect the facilities.
The project will progress in development phases, with the first LNG deliveries scheduled to begin in 2014.
During the life of the project, it was anticipated that over 250 billion cubic meters of gas will be produced and sold.
LNG will be sold to China, Japan and Taiwan.
The report said the project remains on target for the 2014 first shipment of LNG.
RE: PNG LNG update - jft310 - 09-21-2012
Now where will they get the NG for this contract start up???
RE: PNG LNG update - Tree - 09-21-2012
'jft310' pid='10139' datel Wrote:Now where will they get the NG for this contract start up???
Allow me to edit one sentence from the article for accuracy JFT
|
Arnold said the 407 kilometre offshore pipeline installation,complete with an inlet 'T' valve at IOC's proposed Gulf LNG site, was completed. |
RE: PNG LNG update - jft310 - 09-21-2012
OMG moment. A T at Gulf Province!!! Geez whats that for???????????
RE: PNG LNG update - Tree - 09-22-2012
These guys forgot to mention XOM's 'T' inlet and the dry gas negotiations with IOC as well. Where have all the good reporters gone?
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ExxonMobil exploration well in PNG fails to find gas
By Online Editor
10:13 am GMT+12, 21/09/2012, Papua New Guinea
Plans for a possible expansion of ExxonMobil Corp's (XOM) US$15.7 billion PNG LNG project in Papua New Guinea suffered a slight setback after an exploration well failed to discover any natural gas.
The Trapia-1 well did not intersect any prospective reservoir intervals before reaching its total depth of 3,800 meters, the U.S. company's joint venture partner Oil Search Ltd. (OSH.AU) said in a statement Thursday.
Hopes that the partners will find enough natural gas to expand the project two three LNG production units from the two currently under construction were recently buoyed by a large gas discovery at the P'nyang prospect.
The venture is also exploring for more gas at the Hides prospect and analysts remain optimistic that a third production unit, or train, will eventually be constructed.
In a note Tuesday, Commonwealth Bank of Australia analyst Luke Smith said the Trapia-1 well was high risk and the market's focus is on the Hides development well as that field has the potential to contain more than 10 trillion cubic feet of natural gas resources--enough to support at least a third train.
RE: PNG LNG update - sltibbs - 09-22-2012
Anyone think it is possible that the Trapia-1 results affected the announcement that was supposed to come yesterday? I don't know the reserves that XOM/OSH have put aside already or the development time frame for what they have, but if there is concern about having enough gas, then as soon as the negative results were known there could have been a call made to Phil? Just guessing.
RE: PNG LNG update - ValueSleuth - 09-22-2012
'sltibbs' pid='10157' datel Wrote:Anyone think it is possible that the Trapia-1 results affected the announcement that was supposed to come yesterday? I don't know the reserves that XOM/OSH have put aside already or the development time frame for what they have, but if there is concern about having enough gas, then as soon as the negative results were known there could have been a call made to Phil? Just guessing.
Dr. Tibbs,
I doubt that the failure of the well held things up.
Not only would there have had to be a call to IOC, but more importantly there would have had to be a call to the PNG gov't to halt whatever might have been in process to go in front of the NEC.
Things are allegedly way too far down the road to have everything change on the failure of a single well at the last minute. In addition, ExxonMobil thinks/plans very LONG TERM. Whatever involvement they might have in the E/A monetization process would have been thought about long ago. Witness the T installed in the pipeline to their LNG plant.
VS