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Jake, I take this more as another example of "lost in translation" (not being racist, so please hold the mail). EWC does have fields that it operates in both Indon and Australia. In the past after announcing the JV between IOC and EWC there has been mention of possibly sourcing the gas from PNG. My guess is that all was discussed with reporters and as is common, it all got mushed together. EWC probably made the correct statement about sourcing the LNG from PNG, OR Indon or Australia where they operate gas fields.
That's my guess.
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EWC is involved somehow in Gulf Province. Will it be an electric production facility like at Indon or a modular LNG production facility? The final decision may lie with the winning bidder. One needs to ask what was supposed to be announced in Australia and then didn't get announced? Remember the hasty slides??If they have agreed on the size of the first train the exact proposed EWC/Flex size then why was Petromin dragging their feet???Would Shell/Petromin want EWC modular LNG units at Gulf??. The company officially states EWC is not in the first train.If thats so then whose modular units will IOC use at Gulf?? Mitsui has an alternative to EWC with what they think is more efficient technology.But EWC has also passed the Japanese testing. EWC is FID ready and who else is FID ready??As always lots of questions.
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Agree Ken. I'm still not sure where the info stating that EWC has said they are not involved in the first train came from. Maybe sfaeis will tell us where that comes from. I've checked with someone who knows EWC well and he's not aware of that being stated publicly.
One thing for sure is that EWC is in tight with Gulf Province and Kavo and I'd bet they provide a power plant and more in Gulf at some point. They've also had plans for a 2nd project in Western Province for a while and they've met with officials in Madang about providing a power plant for mines over that. BTW none of this is insider/illegal info. It's all been in various publications and posted either here or lowly Yazoo in the past. To tin foil hat wearing skeptics on Yazoo who think some of us are paid PR for IOC, I offer this. There's this unbelievable tool out there on the "interweb" called Google. If you type hings like "PNG news"," Interoil news", "LNG news", Energy World Corp", "SEDI", etc into this Search box, you'd be amazed what doors open up on the interweb. Then the real secret. Spend time doing research and DD, then contact management once in a while. It's magic!
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Oh I listened to the conference call everyone knows that.I like EWC chances here. Inspite of what I was told after the CC. One thing to understand is that only a few IOC execs have a view of the entire picture. Talking to one exec might not get ya the entire picture. Best to stick with the CD version of the CC me thinks. Thus I like EWC chances. Could it be someone else's modular units for quick delivery. Well sure why not. Your Billions has to buy somethin huh. Or would it be cheaper , easier and faster to buy into the FID ready EWC plans??Does time matter???Do costs matter??Would O'Neil be a believer now??
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12-11-2012, 11:40 PM
(This post was last modified: 12-12-2012, 12:22 AM by Palm.)
Tip: watch Indon. Philstar.com says the 4 units for the 2mtpa startup are on site. The guts of the LNG plant are built and paid for. What?!! No cost blowouts there? Impossible. Strong insider rumors are that Oneill feasted his eyes on it recently and confirmed with his Indon PM counterpart,"What? No cost blowouts here? Seems impossible but me like." He then visited the highly efficient EWC-provided power plant in operation and being expanded. "What?!! It's working and paid for? And no cost blowouts here either?!! Me like this too". He then visits the gas conditioning site and facility and says, "What?!! You also know how to bring in low cost CSPs and won't have cost blowouts there either?!! Me like." He then has explained to him where the gas fields are that EWC is developing that will feed the CSPs and the power and LNG plants and the plans for the expansion of the transmission and distribution lines. He liked that too.
So now Oneill stands in PNG and he looks south and west over his left shoulder and sees cost blowouts everywhere and long delayed projects. He looks straight on and sees PNG LNG stick plant with just announced cost blowout taking Kina from his own people. Then he looks north over to his right to Indon and says, "Right is right."
The preceding PR was a paid advertisement by the joint IOC/EWC PR machine.
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Or don't be surprised with an EWC announcement. Just how quick can they get up and running with EWC??Does EWC have modules ready for delivery?? Are they FID ready? Can they break ground in the first quarter of 2013 ??Is it still 30 months build time??If 4 modules produce 2 mtpa then where is the other 1.8 mtpa coming from??Is FLEX that IOC owns a slice of still in the mix???Is that the missing 1.8 mtpa. I don't know but I think we find out soon. O'Neil is on a mission. Does the final decision lie with the winning sell down partner?? Is the cake in the oven baking right now??Who wants to book assets by year end 2012????
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you have philstar.com/pro?
As far as I have it, philstar.com is a Philippine news portal
