Hampering InterOil or just noise?
Mr. Duma, energy minister, making some waves. Is there any substance to it?
- First and foremost, let’s not forget, PNG has been a stable destination for FDI (foreign direct investment), of which there is a considerable amount, mostly in the resource sector
- It’s also undeniable that the 2009 approval doesn’t reflect reality on the ground, InterOil has switched strategy, but with this one of the biggest future tax generating project in the country, it’s simply unfathomable that authorities are not aware of that as discussions are ongoing between the parties.
- Indeed, they were present at crucial milestones in the execution of the new strategy
- There is a simple solution, if reality doesn’t reflect some things in the agreement, change the agreement. Changing the reality is in nobody’s interest..
- And let the cooler heads prevail..
- King & Spalding are the legal advisors, difficult to imagine they were so asleep at the wheel
- What’s more, they’re even advisors to Flex in building the first FLNG with Samsung, for InterOil
- Why it’s difficult to react for InterOil:
- But this is what their IR offical said
- Somebody contacted an analyst
- PM promised to ensure there are no interferences with the two current multi-billion dollar LNG projects
- There is considerable progress towards FID’s
The markets have treated this with a big yawn today, probably wise..