12-13-2011, 06:46 AM
Original 2009 project agreement allowed for up to 10.6 mmtpa LNG production in napanapa, 2016/17 timeline if I remember correctly. Jan. 2010 article when we first had verification of a project addition of Gulf LNG with FLNGs as as Phil said, I paraphrase, 'we have enough gas for 2 projects in parallel...and we want to keep the project agreement flexible'. Gulf LNG was about early production and cash flow as enhancement to napanapa, not as a a replacement for it. I can't see any pols in PM to allow the $7 billion project and associated jobs and services and infrastructure improvements to be moved to the Gulf for good just because it was better for IOC shareholders. My hunch is Liquid Niugini still owes PNG a LNG project in napanapa. Likely the SD major partner will run that project and feed it from 236 or from the Gulf if 236 proves to be under performing. Perhaps the whole flap about IOC not honoring the agreement by moving to the Gulf is to get assurances PNG gets a napanapa pant still before the legislation to allow Gulf LNG is passed.