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png pipeline customer, page-2

  1. 831 Posts.
    When somene starts to 'whip a dead horse' I call him broker or 'advisor'. The pipeline is like the 'bogeyman' in reverse.

    The pipeline is not about to go ahead in a hurry not for want of customers, but for want of a will on the part of the major partners in the project, the strong will of Papua New Guineans not to sell their valuable asset cheaply to Australia below market and to deprive themselves of opportunities to others.

    At least two of hte major partners are on the wane and want out of it. Alcan can have as many feasibility studies one of which would include this hypothesis whilst others are more realistic. The gas pipeline will not go ahead. It is too costly and the end product must be sold very cheaply without factoring any increments even tied to the the cost of living index. It simply means rob the Papua New Guineans in any language you will.

    People who hold on to the 'pipe dream' will have themselves to blame when the truth unfolds or takes longer to unfold. It is a political 'football' and a 'hot potatoe' in PNG and in Australia who began the fairy tale of PNG to Gladstone under the sea by gas. Then came Australia's version of Mr. Clean. A corrupt and undignified economist and Prime Minister who attempted to sell his country by dumping all of their valuable assets like their utilities for a bargain on the open market calling it privatisation. He failed and was unceremoniusly dumped!! Australia too failed there.

    Just for food for thought. The previous government spent nearly $20 million just to conduct a set of due diligence studies in order to privatise. All they ended up with was a set of acounts leaving a lot to be desired complete with footnotes by accountants posing as merchant Bankers.

    the KPMG report leaves a lot to be desired and the price they charged leaves a lot more questions unanswered. The pipeline will not proceed.

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