10-16-2012, 05:36 PM
" In a separate document seen by The Wall Street Journal, Papua New Guinea's Prime Minister Peter O'Neill and Energy Minister William Duma RECOMMENDED the National Executive Council--the country's cabinet known as the NEC--approve changes to the Gulf LNG project."
" The draft submission from Mr. O'Neill and Mr. Duma to the NEC also recommends the state begins talks with InterOil and its partners to acquire a larger interest than 22.5% in the Elk and Antelope gas fields "ON COMMERCIAL TERMS reflecting market value to be agreed with the upstream participants', targeting a binding deal by the end of December."
" The draft submission from Mr. O'Neill and Mr. Duma to the NEC also recommends the state begins talks with InterOil and its partners to acquire a larger interest than 22.5% in the Elk and Antelope gas fields "ON COMMERCIAL TERMS reflecting market value to be agreed with the upstream participants', targeting a binding deal by the end of December."