Total eyes two Gulf LNG trains in PNG

[Justin94360]

http://www.pngindustrynews.net/storyview.asp?storyid=826935724&sectionsource=s0 Total eyes two Gulf LNG trains in PNG

Blair Price Friday, 26 September 2014 FRENCH supermajor Total has revealed that the LNG project based on InterOil’s Elk-Antelope onshore carbonate discoveries in Papua New Guinea’s Gulf province could end up targeting 6 million tonnes per annum. Wahoo-1 amid InterOil's licence portfolio in PNG. While the Total-operated appraisal drilling program will provide further confirmation of the reserves at play, Macquarie noted the Elk-Antelope field was safely part of Total’s list of proposed projects in light of the major’s recently unveiled plans to divest $US10 billion ($A11.3 billion) of assets over two years. “Interestingly, despite all the confusion around whether this will be one train or two, which will be subject to the ongoing appraisal program and who will operate (Interoil has not been totally clear on this issue), Total refers to this as a 6MMtpa project (that is, two trains) and Total is reassuringly claiming to be the project operator,” Macquarie Equities said. The bank also covered the prospect of collaboration with the ExxonMobil-led PNG LNG project, which is already exporting. “Also, with Total's growing focus on development costs and claims of ‘more stringent criteria on design and way we plan to develop’ suggests Total may yet consider a brownfield expansion of existing facilities in PNG – if Exxon can be won over, which would presumably require an equity stake.” Oil Search, the second biggest PNG LNG stakeholder and PNG’s dominant oil producer, is also in the Total and InterOil Elk-Antelope joint venture. The field has 9.07 trillion cubic feet of initial recoverable sales gas, according to GLJ Petroleum Consultant’s best-case estimate. . . . . Interesting Blair starts talking about collaboration soon after recent PNG statements about 2nd plant?

[Palm]

Have to remember Blair plays both sides of the fence.

[jft310]

The comments about collaboration are from Macquarie see article . This chatter about collaboration may have prompted Minister Durbin to make his comments. Seems to me the govt carries a big stick .

[kommonsents]

http://www.pngindustrynews.net/storyview.asp?storyid=826935724&sectionsource=s0 Total eyes two Gulf LNG trains in PNG

Blair Price Friday, 26 September 2014 FRENCH supermajor Total has revealed that the LNG project based on InterOil’s Elk-Antelope onshore carbonate discoveries in Papua New Guinea’s Gulf province could end up targeting 6 million tonnes per annum. Wahoo-1 amid InterOil's licence portfolio in PNG. While the Total-operated appraisal drilling program will provide further confirmation of the reserves at play, Macquarie noted the Elk-Antelope field was safely part of Total’s list of proposed projects in light of the major’s recently unveiled plans to divest $US10 billion ($A11.3 billion) of assets over two years. “Interestingly, despite all the confusion around whether this will be one train or two, which will be subject to the ongoing appraisal program and who will operate (Interoil has not been totally clear on this issue), Total refers to this as a 6MMtpa project (that is, two trains) and Total is reassuringly claiming to be the project operator,” Macquarie Equities said. The bank also covered the prospect of collaboration with the ExxonMobil-led PNG LNG project, which is already exporting. “Also, with Total's growing focus on development costs and claims of ‘more stringent criteria on design and way we plan to develop’ suggests Total may yet consider a brownfield expansion of existing facilities in PNG – if Exxon can be won over, which would presumably require an equity stake.” Oil Search, the second biggest PNG LNG stakeholder and PNG’s dominant oil producer, is also in the Total and InterOil Elk-Antelope joint venture. The field has 9.07 trillion cubic feet of initial recoverable sales gas, according to GLJ Petroleum Consultant’s best-case estimate. Interesting Blair starts talking about collaboration soon after recent PNG statements about 2nd plant?

Soounds like we are waiting for the dispute and arbitration process to resolve itself which should boost the pps handsomely.

[davidhmtk]

The comments about collaboration are from Macquarie see article . This chatter about collaboration may have prompted Minister Durbin to make his comments. Seems to me the govt carries a big stick .

Not to mention that they are significant shareholders in Oilsearch

[kommonsents]

The comments about collaboration are from Macquarie see article . This chatter about collaboration may have prompted Minister Durbin to make his comments. Seems to me the govt carries a big stick .

Not to mention that they are significant shareholders in Oilsearch

Which prompts the question.   Would PNG change the rules and allow OSH to be Operator of the new LNG plant?  That could be a game changer  in many ways.