01-30-2013, 12:29 AM
'ArtM72' pid='16759' datel Wrote:At the first level this sounds great for IOC. E/A has the gas. At the second level this doesn't seem to make sense. A two train LNG plant with only 3T identified after several years seems an "oops" of the kind not normally made in the industry I suspect. That is an almost "how can this be?". That just doesn't add up. But the SHU thread started by Petrovale 5/9/2012 suggests there has been a question about how much gas was really available from the Highlands. http://shareholdersunite.com/mybb/showth...hp?tid=810 The Patrick Talu article quoted sure reads like volumes were based on "leaders" sitting around the campfire claiming "mine is bigger than yours" with Duma's bluster at the center of it all. My bet: Exxon's engineers put that tee in the pipeline just in case they couldn't find enough gas in the Highlands. This gives us yet another new angle on why IOC's project may have been delayed: Exxon didn't want to see an LNG plant in the Gulf when its Port Moresby plant didn't have sufficient feedstock to keep it running.
Probably another reason why the govt. wanted an additional 27.5% because they knew they wouldn't have a problem saleing it to XOM