Thanks Justin! Nice DOT here. Just how to connect it??
"offers to split ownership of Elk and Antelope's resources equally, with InterOil and its partners holding the right to develop the first 4 trillion cubic feet of natural gas and use it to supply their proposed Gulf LNG export facility, designed to produce 3.8 million metric tons of LNG a year." 3.8 Mtpa is EWC and FLEX, that scheme has been abandoned we've been told
"the proposal gives Papua New Guinea the right to the next 4 trillion cubic feet of gas supply from the Elk and Antelope fields that it could use for a smaller LNG project as well as meeting domestic power needs." EWC type power plant and a dry-gas sales agreement with XOM with OT going to China? (edit- 4TCF yields 85MT LNG, perfect for a PNG LNG expansion and 25 yrs. production)
"(larger interest)...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." Chinese fund PNG's extra share?
"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." Sounds like Gov't support, final project clarification and almost time to name names.
ps - this ties back to Duma's comments this weekend which ensures Gulf LNG has enough gas to expand to 12Mtpa and more importantly keeps Kavo happy by getting his project while signing off on some gas processed at PNG LNG.
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"I am also conficent that the Triceratops discovery will bring more resources to the InterOil LNG project with additional benefits for the people of the Gulf area and the country as a whole", Mr. Duma said. |