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French businesses welcome in PNG
Friday, 17 July 2015
FRANCO-Papua New Guinean relations are on the up as Prime Minister Peter O’Neill revealed his intentions to open an embassy in Paris with the support of the French government.
The comments came at a Bastille Day reception attended by O’Neill and French ambassador Pascal Maubert, and athletes from Wallis and Futuna, New Caledonia and Tahiti who competed in the Pacific Games.
Plans to open the diplomatic post come in the wake of a trade mission to Europe in June to drum up foreign investment in PNG, where a contingent of government and business leaders spoke at the UK-PNG Trade and Investment Fourm in London and a French Business Confederation breakfast in Paris.
At the time, O’Neill said companies like Total SA recognised PNG’s investment potential.
“In my meeting with senior executives at Total SA, they reaffirmed their commitment to developing the third train of LNG in Papua New Guinea,” he said.
O’Neill welcomed increased links with French companies, saying “more French businesses and people are living in PNG than ever before and this is likely to increase with the new LNG project.”
He also said the technical knowledge and capacity building Total will bring into developing the Papua LNG project will continue to transform the economy.
“We see this as a major expression of confidence by France and its business in PNG and its economy, and we look forward to developing these opportunities together,” he said.
Although resources is the dominant sector in PNG, the government hopes foreign capital could help the agriculture, fisheries, telecommunications and tourism industries.
O’Neill has also accepted an invitation to chair one of the meetings taking place during the Climate Change Conference in Paris later this year.
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Here's O'Neil talking 3rd train again . Putting aside my desires of a 2 train build some things are for sure :
The Exxon pipeline has capacity for a third train already built and paid for
Using P'nang gas because of the second mountain range would be very expensive
Expanding a plant is cheaper than a new build
LNG prices are in the dump
Hession has a huge incentive to cut a new deal with Exxon .
PRL 15 has lots of gas
Lower capital required today to build a third train than any other build
Buys time for LNG prices to recover
Interoil gets earlier cash flow vs a capital raise .
Total gets to save some money waiting for oil prices to recover
Best guess we get an Exxon third train with PRL 15 gas and several years later a 2 train build with PRL 15 gas .
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I believe Total SA has a big say in that? Six years is a long time for gas prices to recover. But i would think we would want to use Wahoo for Exxon negotiations if the first well is promising.
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The comment made is just a repeat from what was said while O'Neill was in Europe. IOC IR said it was a mistake and it was actually XOM who made the statement at one of the forums. O'Neill's PR people got it wrong.
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JFT ... you said:
QUOTE
Here's O'Neil talking 3rd train again . Putting aside my desires of a 2 train build some things are for sure :
The Exxon pipeline has capacity for a third train already built and paid for
Using P'nang gas because of the second mountain range would be very expensive
Expanding a plant is cheaper than a new build
LNG prices are in the dump
Hession has a huge incentive to cut a new deal with Exxon .
PRL 15 has lots of gas
Lower capital required today to build a third train than any other build
Buys time for LNG prices to recover
Interoil gets earlier cash flow vs a capital raise .
Total gets to save some money waiting for oil prices to recover
Best guess we get an Exxon third train with PRL 15 gas and several years later a 2 train build with PRL 15 gas
END QUOTE
THAT IS PURE UNADULTERATED DRIVEL OF THE FIRST KIND
I strongly suggest that you take up your own constant/repeated refrain and call IR to get their opinion.
Drivel Maven with Personality
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I would hope the company management is thinking of every creative way to monetize to the shareholders benefit. Revenues and earnings will move the PPS.
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That's still a non-starter, imo. The more PRL 15 gas goes to Papua LNG, the more profitable it will be for Total. I also feel sure Total can market more gas in as short a time frame as Exxon can. There is no "Gulf T-connection" at the Exxon pipeline; that was a fantasy. I also would say Total can get two pipes laid for less than double the cost of one.
