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05-26-2014, 05:52 PM
(This post was last modified: 05-26-2014, 05:59 PM by sydbod.)
http://www.google.com.au/url?sa=t&rct=j&q=&esrc=s&source=newssearch&cd=1&cad=rja&uact=8&ved=0CCwQ-AsoAzAA&url=http%3A%2F%2Fwww.businessweek.com%2Fnews%2F2014-05-25%2Fexxon-png-lng-project-in-talks-with-asia-customers-on-spot-sales&ei=be-CU9Yj2ILyBea3gbgO&usg=AFQjCNH5jE49DbUTVUSIGlf_1RscUMJNTA&sig2=sKEvjbNohg_PTB99BAA-Tg&bvm=bv.67720277,d.dGc
Exxon and its partners, including Oil Search Ltd. (OSH) and Santos Ltd. (STO), are considering expansion of the development to tap Asian demand. Exxon is focused on exploration to underpin an expansion rather than trying to obtain gas from InterOil Corp.’s Elk and Antelope gas discoveries, Autin said.
http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=01520361
Production from the first LNG train started in April, and production from the second train has
also started.
http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=01520354
The cargo has been sold on the spot market to Tokyo Electric Power
Company Inc. (TEPCO). This follows the commencement of LNG production from the first train in April and
from the second train in May.
Looks like both trains are up and running now also. That sure suprised me.
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Good find, Sherlock — I mean, Syd.
Another excerpt:
"Decie Autin, Exxon’s project executive in Papua New Guinea, said today in a phone interview..."
"Total SA and InterOil want to build a second export development in Papua New Guinea based on gas from the Elk and Antelope fields. Oil Search also agreed earlier this year to acquire part of those fields.
“It looks like they have a deal, it looks like they’re building a greenfield facility, and to my knowledge, that’s a go, and something that’s happening,” Autin said. “I don’t know of a lot of opportunity there” for Exxon, she said.""
wow.
for our cause
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Good find Syd. Must be the trip to Paris has been fruitful and the picture has cleared. Not much has changed as this addresses EA but it sounds like it's possible a decision has been made to move ahead as planned in the Gulf.
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I keep worrying about this new found clarity. It may be correct that currently there is no intention to link EA gas to PNGLNG, but as we all know, things keep moving very fast in this industry and until FEED, things can always change.
It appears that China has made a huge deal with Russia for pipeline gas the other day. It also appears that Japan want to restart its nuclear power, starting very soon. Japan is the larges importer of LNG and if its nuclear reactors start up then there will be a huge drop in demand for LNG by them. We could possibly see a drop in LNG prices for a time period in a few years time. I can still foresee the possibility of it being beneficial for both PNGLNG partners and for TOT/IOC/OSH to process E/A gas at PNGLNG if only to lock in contracts and start LNG deliveries earlier than would happen from a new plant and try to catch the higher LNG prices before they may drop. This is all speculation but worth keeping in the back of ones mined.
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05-26-2014, 11:29 PM
(This post was last modified: 05-26-2014, 11:31 PM by Palm.)
Syd, quit worrying. If one remembers, the Aussie government a couple of years ago made the statement, "The Chinese are securing resources for the next centuries". That's plural. The Japanese were the biggest buyers of LNG BEFORE Fukishima. The world constantly worries about having enough energy resources. Relax, or maybe it's time for you to sell your OSH and Santos shares on which you have done very well. I fear your next concern may be earthquakes in PNG.
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05-27-2014, 12:41 AM
(This post was last modified: 05-27-2014, 12:47 AM by sydbod.)
(05-26-2014, 11:29 PM)Palm Wrote: Relax, or maybe it's time for you to sell your OSH and Santos shares on which you have done very well. I fear your next concern may be earthquakes in PNG.
Uggggggg, dont say that. My worry then would be the tax I would have to pay.
As you probably have noticed, I am a "glass half empty" sort of guy, rather than a "glass half full" type.
EDIT: just a quick heads-up, I have a reasonable confidence (75%) that from the 28th of this month including the following 10 days from that date, there will be significant news presented dealing with IOC. I wont be around at that time, so it will be interesting to see what happens in that time slot, when I return.
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How cab one not have access to the internet for 10 days?
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Putncalls, One person on this forum already knows about what is going on and they will hopefully keep very quiet about it. Anyway, should it be a false alarm, we (me included) can all have a laugh at my expense. 
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'sydbod' pid='43780' datel Wrote:
'Palm' pid='43778' datel Wrote:Relax, or maybe it's time for you to sell your OSH and Santos shares on which you have done very well. I fear your next concern may be earthquakes in PNG.
Uggggggg, dont say that. My worry then would be the tax I would have to pay.
As you probably have noticed, I am a "glass half empty" sort of guy, rather than a "glass half full" type.
EDIT: just a quick heads-up, I have a reasonable confidence (75%) that from the 28th of this month including the following 10 days from that date, there will be significant news presented dealing with IOC. I wont be around at that time, so it will be interesting to see what happens in that time slot, when I return.
Hi there Syd- So if my interpretation is correct,you now believe our"late April to early May" has now become "late May to early June"? If the news coming out in that time-frame is very productive( pun intended) then we could be very happy. Be nice if that turns out to be the case.Good luck in your short absence.
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05-27-2014, 03:01 AM
(This post was last modified: 05-27-2014, 03:20 AM by will2bgreat.)
(05-27-2014, 12:41 AM)sydbod Wrote:
(05-26-2014, 11:29 PM)Palm Wrote: Relax, or maybe it's time for you to sell your OSH and Santos shares on which you have done very well. I fear your next concern may be earthquakes in PNG.
Uggggggg, dont say that. My worry then would be the tax I would have to pay.
As you probably have noticed, I am a "glass half empty" sort of guy, rather than a "glass half full" type.
EDIT: just a quick heads-up, I have a reasonable confidence (75%) that from the 28th of this month including the following 10 days from that date, there will be significant news presented dealing with IOC. I wont be around at that time, so it will be interesting to see what happens in that time slot, when I return.
sydbod, good news or bad?
Also, no one on this board has ever given a rational via a level 2 schedule on the time reduction if IOC went with PNG LNG. I don't think IOC would save additional time by going with PNG LNG.
As for XOM being out of the E/A gas; there just is not enough money for IOC to join the PNG LNG partners. In order for that to happen either XOM was going to have to ovel pay and therefore take less return on their investment or IOC would have to take less. Neither one of those things were going to happen.
The only way for IOC to end up at the PNG LNG is via a buyout.
Good luck longs.
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