interoil in png, page-8

Arsenic, I was referring to this part of the article (yes, written in November 2012)... which, I guess, explains recent gas deals in PNG (e.g. Interoil/Total) and Horizon's strategic assets... try to be smart, mate!

"Papua New Guinea’s appeal as a gas exporter is growing in step with Asia’s demand for natural gas, particularly in China which is striving to reduce its reliance on burning dirty coal for power. The International Energy Agency this month forecast that China’s consumption of natural gas is poised to quadruple from 130 billion cubic meters in 2011 to 545 billion cubic meters in 2035.

Unlike rival LNG suppliers in the Middle East, shipments to Asia from Papua New Guinea won’t pass through the Malacca Strait choke point near Singapore and freight charges are lower.

“We believe Horizon Oil has a commanding and material position in the liquids-rich sweet spot of the Papuan foreland basin and we have had strong interest in the sale from substantive LNG industry players,” Horizon Oil Chairman Fraser Ainsworth told shareholders at the company’s annual meeting in Sydney.