O'Neill meeting with Total: They commit to "3rd train of LNG"

[Palm]

What does THAT mean?

**** Increasing Business and Creating Jobs Through Engagement with Europe

"**** June 21, 2015 Creating more jobs for Papua New Guineans will be a positive outcome of advancing the nation’s engagement with Europe during the Prime Minister’s visit to Brussels and Paris over the past week. In the course of the visit, the Prime Minister, Hon. Peter O’Neill CMG MP, met with a range of business representatives and the President of the European Council, H.E. Mr Donald Tusk.

These meetings also included a business breakfast, hosted by the French Business Confederation, with thirty representatives from companies interested in initiating or expanding their operations in Papua New Guinea. “There is significant interest in Papua New Guinea from the business community in the cities our delegation visited, and we must convert that interest into tangible business engagement,” Prime Minister Hon. Peter O’Neill said. “We cannot think of Europe as being too far away to matter. “Europe offers a important market particularly for our agricultural products. “There is also tremendous potential for strategic partnerships in areas that include banking, energy and resources.

“In my meeting with senior executives at Total S.A., they reaffirmed their commitment to developing the third train of LNG in Papua New Guinea. “Total is a great example of a European company that recognises the potential for investment in Papua New Guinea. “Total is already employing Papua New Guineans and foreign workers and this number is expected to reach 10,000 at the peak of the construction project. “With one of the fastest growing economies in the world and being a country with ongoing political stability, businesses are interested in investing at Papua New Guinea.”

The Prime Minister said his meeting with European Council President, H.E. Donald Tusk, also provided an opportunity to deepen and widen interaction on important issues. This includes European concerns in relation to fisheries. “We discussed action being taken in Papua New Guinea to combat illegal fishing,” Prime Minister Hon. Peter O’Neill said. “Papua New Guinea takes these concerns seriously and we are making improvements in our internal systems. “Both the European Union and Papua New Guinea want to deal with illegal fishing and we are cooperating to achieve a positive outcome. “President Tusk and I further had the opportunity to further discuss visa issues. We are working towards having improved visa arrangements for Papua New Guineans travelling to EU countries.”

The Prime Minister said following the success of the UK-PNG Trade and Investment Forum last week, and the positive reception in Paris, future forums are likely to include France. “Next year we are looking at the trade and investment forum being held in Paris and alternate this with London each year.” The Prime Minister thanked the Governments of Belgium and France for their support in facilitating the visit that took place on 17-19 June 2015."

Huh

[jft310]

Exxon's world HQ is not in Europe . The only third train must be Antelope . Sure sounds like more than 10 T's or it could involve the tie back wells to get to enough for three trains . Doesn't mean an initial 3 trains does could it be ??

[Palm]

This is direct from O'Neill's website so is his release. A bit confusing unless as you say this is coming out of PRL15 somehow. If so, we ought to have some official announcement before long. Strange

[jft310]

The UBS slides stated concept selection by the end of June . Might all come out at once ..?, Total as operator , concept selection etc . Interesting .

[Thylacine-2]

IMO, this is a likely error by the writer. My bet is that Total is reassuring O'Neill that they will proceed with the 2nd LNG project. Fits with the statement about employment by Total will reach 10,000 during construction.

[Palm]

If it didn't come from his own website, I'd think this was a misquote. Pretty specific stating 3rd train, but then leaving it at that leaves too much to speculation. Guess we wait and see what comes out in next few days.

[Brew Swillis]

My read is that he is saying PNG has two trains in PNG LNG and Total reaffirmed their commitment to a third train, meaning at least one more train from Total, et al.

[Tusker]

This is direct from O'Neill's website so is his release. A bit confusing unless as you say this is coming out of PRL15 somehow. If so, we ought to have some official announcement before long. Strange

Strange could be a discussion and data review of Antelope South,Raptor,Bob Cat,and Triceritops.  Instead of waiting a year after as PNGLNG did in annoucing their MOU (tie back-third train), TOTPNG is incorporating a fast track expansion probability up front.

Before long looks to become very shortly.

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[Palm]

Just very strange when they are in the middle of testing/drilling for Certification. Total has said they want their own plant with IOC and you always start with at least 2. Whole thing makes little sense on its own.

[Palm]

This is direct from O'Neill's website so is his release. A bit confusing unless as you say this is coming out of PRL15 somehow. If so, we ought to have some official announcement before long. Strange

Strange could be a discussion and data review of Antelope South,Raptor,Bob Cat,and Triceritops.  Instead of waiting a year after as PNGLNG did in annoucing their MOU (tie back-third train), TOTPNG is incorporating a fast track expansion probability up front.

Before long looks to become very shortly.

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Hession said in his MS interview that they are in discussions on Tri, Raptor and Bobcat, but none of those (except where Raptor crosses into PRL15) involves Total.  Ant S of course does, but they have yet to tap it.  Like you say, maybe they feel confident enough that they'll have at least 10.5 Ts in Ant, but still would be strange for them to say anything at this point.