OSH 1.83% $2.78 oil search limited

PNG GAS PROJECT: GET READY

  1. 99 Posts.
    The project is now not that far away and in PNG things are starting to heat up and Exxon are soon to anounce the customer base and terms etc. Hang in there guys.

    Gas reroute on

    THE Queensland to PNG Gas Pipeline will go onshore at Momba, joining the Australian national grid and opening new opportunities for more gas customers instead of only from Townsville.
    Gas and Energy Minister Sir Moi Avei revealed this in Parliament in response to questions by Pomio MP Paul Tiensten who asked why Queensland Premier Peter Beattie supported the gas pipeline.
    Mr Tiensten, who is also chairman of the special parliamentary committee on gas and energy, also wanted to know what state the billion-kina gas project was at.
    Sir Moi said the Government welcomed the initiative by Mr Beattie to visit PNG.
    “There has been change in the scope of the project. The pipeline configuration has been changed so instead of going straight to south-west Queensland to Townsville, the pipeline will now go straight to the Australian national grid. It would go straight to Momba. And that has opened new opportunities for more customers,” he said.
    “Announcements has been made with regard to ADAL; and ExxonMobil have confirmed that announcement will be made with gas to other foundations customers.
    “The companies have also confirmed that in preparations for the Front End Engineering Design (FEED), scheduled to begin at the end of this year they have pre-committed another AUD20 million to take the companies from now to the end of the year.
    “Now that is an important signal for us — this is a commercial project — where investors will have to find K18 billion for this project.
    “It is by far the biggest project this country will undertake so you can understand why the sponsors are taking their time and gas has to be driven by gas agreements.”
    “We are extremely confident that we will have the foundation customers in place; we are confident that Exxon Mobil and other sponsors will make announcement to commit themselves to FEED,” he added.
    “It will cost this customers another $US50 to $US60 million. Now once the commitment to FEED is done at the end of the year, you and I can jump up and down that we have a viable, commercial project,” he said.
    Sir Moi said that until such time, PNG has to respect “the commercial sensitivities in negotiations” and concentrate on addressing law and order and landowner problems.



    Mark.
 
watchlist Created with Sketch. Add OSH (ASX) to my watchlist
(20min delay)
Last
$2.78
Change
0.050(1.83%)
Mkt cap ! $5.776B
Open High Low Value Volume
$2.76 $2.78 $2.72 $14.31M 5.190M

Buyers (Bids)

No. Vol. Price($)
10 91499 $2.77
 

Sellers (Offers)

Price($) Vol. No.
$2.79 169658 10
View Market Depth
Last trade - 16.10pm 25/09/2020 (20 minute delay) ?
(live)
Last
$2.77
  Change
0.050 ( 1.25 %)
Open High Low Volume
$2.77 $2.78 $2.72 1691775
Last updated 15.59pm 25/09/2020 (live) ?
OSH (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.