Silde 26- PM O'Neill support To have our Gulf LNG project reach/announce FID by Year-end. Duma suppo | IOC Message Board Posts


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Msg  8597 of 13357  at  11/15/2011 8:59:58 AM  by

Rob Cos

The following message was updated on 11/15/2011 9:18:09 AM.

Silde 26- PM O'Neill support To have our Gulf LNG project reach/announce FID by Year-end. Duma support.

   
 

Sir Rabbie Namaliu: Former PNG Prime Minister, Minister for Petroleum and Energy, Minister of Foreign Affairs, Minister for Treasury & Speaker of Parliament

o Discussion and support by Prime Minister Peter O'Neill: To have our Gulf LNG project reach and announce FID by Year-end. The Gulf LNG to be completed before going into the Election.

o Discussions with Petroleum Minister William Duma, last Friday confirmed his support. He recognized the long term support by InterOil, but modified his stance for InterOil to add a major for acceleration to target LNG capacity.

o Discussion with Other Ministers, MEC & NEC. Many overwhelmingly support the Gulf location and work by InterOil, as it benefits one of the poorest areas of PNG.

o Benefits to Treasury and to the Department staff. The Gulf LNG project is seen for early and lower risk economic benefits to the nation and a needed regional of PNG.

o The PNG government will not force a long term contributor to the PNG economy and proven & loyal development partner of PNG, into an unfavorable negotiating position with a single company, and supports the InterOil LNG development plan.

o The cabinet members, Petroleum Minister and Prime Minister, welcome the Investment Banks to accelerate the process of LNG development in the Gulf of PNG
 
In closing, InterOil has a solid LNG project with overall support by the country. The Prime Minister and Minister Duma confirming the desire to complete the LNG project in a timely fashion and have FID by Year-end.


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