'Stavros' pid='20181' datel Wrote:Check out the article folks. Why is the South Korean Ambassador shown at Elk-4? That was drilled in mid 2008. It seems to be a non-sequitor since Blair Price makes no mention of Korea in his article. OR ... maybe including a picture of him DOES have some relevance?? HINT
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Korean stage now. SK/PNG PMs to meet like JP and Thais did??
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Yesterday seems so far away. Huh, now what, we gonna hear what Kavo is waiting in line to receive? Wouldn't it be tragic if there were good news at the hole bottom?
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Monday 04th February 2013
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PNG in energy congress
PAPUA New Guinea’s participation in the the 22nd World Energy Congress (WEC) in Daegu, South Korea will enhance the country’s energy sector.
Korean Ambassador to PNG, Lee Whiejin, said areas of interest to PNG could include efficiency in energy production, adoption of global technology, reliable accessibility and sustainable consumption. PNG can also benefit from a clean energy research and technology partnership with Korea, according to Mr Whiejin, considering the latter’s wealth of experience and expertise in clean energy technology. Korea’s Daewoo Engineering and Construction company is currently installing two trains for the multi-billion dollar PNG LNG Project. Another Korean firm, Korea Gas Corporation (Kogas), currently leads an East Asia consortium that is negotiating with InterOil over a potential partnership in the Gulf LNG Project. As the leading importer of LNG into Korea, Kogas offers expertise in areas of supply which can be beneficial to PNG.
PNG is currently experiencing unprecedented economic growth with energy consumption – both industrial and domestic – expected to rise and consequently create the need for access to reliable energy supply.
The PNG Government, as part of its PNG Development Strategic Plan (DSP) 2010-2030, aims to provide 70 per cent of its population with access to electricity by 2030. Under the 2013 National Budget, funding will target the rural electrification program which is overseen by the PNG Power Ltd (PPL).
Considering the remote locations of PNG’s rural communities as well as the geography of PNG’s landscape, pulling power lines and other infrastructural developments can be costly. Therefore, forging a partnership with Korea to maximize its renewable energy source supply efficiently, would benefit the country in the long-term.
The WEC would run from October 13-17 and be held at the EXCO (Exhibition and Convention Center) in Daegu. In terms of primary energy consumption, Korea was ranked 8th globally in 2010 with petroleum being the most used source at 39.7%, coal followed at 28.9%, LNG at 16.4% and nuclear energy at 12.2%.
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Business
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Monday 05th March, 2012
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Asian eyes Gulf LNG project
AN Asian company has expressed desire to submit a proposal to InterOil to participate in the Gulf LNG project as the strategic partner.
The Far East Consortium (FEC) comprised of executives from Korean Gas Corporation (KOGAS), Japan Petroleum Exploration Company (JAPEX) and Mitsui and Company Limited met with Prime Minister Peter O’Neill last week to discuss their continued involvement in the development of the PNG LNG Project.
Among the proposal is to acquire some portion of working interest in Petroleum Resources Licence (PRL) 15 including the ELK/Antelope field.
Mr O’Neill in welcoming the Consortium expressed appreciation for their interest to invest in the Gulf LNG Project.
He said the Consortiums’ efforts were vital to operate all aspects of the LNG project including upstream processing of gas products given their vast experience in this area. The Prime Minister also met with the Ambassador of the Republic of Germany H.E Dr Christopher Muller, who is concurrently accredited to PNG from Canberra, Australia.
In their discussions, they reaffirmed the existing bilateral relations and agreed to explore further cooperative arrangements in the industrial sector, manufacturing and services, sustainable agriculture and forestry with a view to adding value to the products.
Mr O’Neill informed Ambassador Muller that PNG was experiencing unprecedented economic growth levels and welcomed investors from countries such as Germany that were experiencing strong and stable economies in Europe. “Our economy is expected to be doubled by 2014 and I invite potential investors to invest in PNG,” he said. He said democracy was very vibrant in PNG and the environment was also conducive for foreign companies to explore business opportunities.
