11-16-2012, 12:07 AM
PNG's has a crisis in infrastructure and PNG has asked IOC to kick-off the 3.8 Mtpa as a foundation project and net is IOC will own 74% of 1st phase upfront. 3.8 Mtpa is the sweet spot start-up. PNG is taking their stake 'in-kind' as they will spend their money and efforts now on infrastructure.
IOC is now not financing the State's 22.5% stake in start-up.
PM says 'Hey - get going' and we will negotiate gas agreements later.
On GC:
GLJ is a certified #
GC is a quick review
Both state we have enough gas for 8Mtpa project.
IOC is now not financing the State's 22.5% stake in start-up.
PM says 'Hey - get going' and we will negotiate gas agreements later.
On GC:
GLJ is a certified #
GC is a quick review
Both state we have enough gas for 8Mtpa project.