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Mr O’Neill said Cabinet had approved the establishment of the bureaucratic negotiation team to be headed by the Secretary for Petroleum and Energy and comprising departments of Treasury, Justice and State nominee Petromin, to negotiate the terms of the 50-50 proposal and report to Cabinet, through the Ministerial Gas Committee by November 30, 2012.He said given the importance of the project, Cabinet approved the establishment of the Ministerial Gas Committee headed by Minister for Petroleum and Energy and comprising key economic Ministers, including Minister for Treasury, Minister for Trade and Industry, Minister for Planning, Minister for labour and Employment and Minister for Environment and Conservation to fast-track the commercialisation of the country’s second LNG. |
In real PNG with real work to do it would take all these people 5 yrs. to do what they have 14 days to pull off.
O'Neill wants Gulf LNG deal done by YE. O'Neill wants Gulf LNG deal done by early December, enough so that he can tout it at the conference in Sydney that he and Henry are addressing Dec. 2 - Dec. 5. http://www.pnginvestment.com/index.php/program/.
O'Neill and his boys are now positioning themselves to take full credit as the politicians that 'completed the long, much delayed and controversial Gulf LNG deal'. Just look above at what O'Neill has established and ordered a resolution by Nov. 30. The biggest job for these guys is to figure out where to stand at the coming photo op. These bodies are not doing any negotiating or DD, they just want to part of the symbolic process for the next couple of weeks.
It took months for PNG to sign off on the no-brainer refinery loan, does anyone really think these committees have real work to pull together in 14 days? Me say the deal is basically all done between PNG and IOC and these new commitees are just self engrandizement opportunities. IOC is free now to solicit final bids and choose SD partner, operator and scheme.
This could all happen quickly.