07-20-2016, 01:49 AM
(This post was last modified: 07-20-2016, 01:50 AM by katytrader.)
(07-20-2016, 01:04 AM)Palm Wrote: But the fact is the government was very excited and parliament cheered when O'Neill announced way back in 2013 that IOC had entered into negotiations with XOM for development of EA. IMO the government first needs revenues to right their budget and those come early and often from the maximum expansion of PNG LNG. Once the decision was made for the new plant to be next to PNG LNG the actual Papua LNG facility became secondary to PNG LNG expansion.
Yes, that was in 2013 when it looked like XOM was the only supermajor in sight. Government (and politicians') revenue needs tend to be insatiable no matter what, so IMO the locals would rather have two fat pigs rather than one.