11-16-2012, 09:36 AM
'jake990037' pid='12667' datel Wrote:Here is official press release from O'Neill. http://www.scribd.com/doc/113416961/PNG-...NG-project# I have a concern that all the power in these negotiations on the terms for the additional 27.5% lies with the PNG govt.. We will have to see what terms are agreed (hopefully not imposed) but I see why the situation could read like a partial nationalization. Tell me why my concerns are misguided.
Jake- This is the first time I have seen this "official" press release from Mr. O'Neill. I can see why you are concerned. This looks like what we had heard a few days ago and I thought Phil was down playing that possibililty today because the Government didn't have any money. Now they want 50% and they want it to be sellable which to me means it needs to go through an LNG Plant. Also they say they want 2 separate facilities. Looks like a big "grab" unless they are going to have someone like Shell finance their share and build a separate LNG Plant. I am with you, I am beginning to need a lot of help to understand what the Government wants.