PNG GAS PIPELINE FINDS CUSTOMER, NEEDS MORE

SYDNEY, Australia (ABC News Online, July 9) - Queensland Premier Peter Beattie said a conditional agreement for Energex to buy gas from the PNG gas pipeline is important, but in itself will not deliver the project.

From 2007, Energex will buy between 480 and 1,200 petajoules of gas over 20 years.

It will sell gas to customers, including the Comalco Alumina Refinery.

The PNG gas project's operator, ExxonMobil, needs to sell about 100 to 150 petajoules a year for the project to progress to the engineering and design stage.

Beattie said the project has strong support from the State Government if it stacks up financially.

"The Energex announcement is an indication that it still has life in it, PNG, I welcome the agreement, it is a commercial deal between Energex and the pipeline proponents, the bottom line is they still need to have customers," he said

July 10, 2003

ABC News Online: http://abc.net.au/news/ 

 

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