Could this be the catalyst for NGE shares to be a wanted company ?
PNG set for $35 billion gas windfall
By PNG correspondent Liam Fox
Posted 52 minutes ago
A final decision is expected today on whether the companies behind Papua New Guinea's biggest resource project will proceed with the venture.
Exxon Mobil and its partners are expected to make a final investment decision on whether to go ahead with an $11 billion liquefied natural gas project.
It involves piping gas from PNG's Southern Highlands and Western provinces across the country to a plant near Port Moresby for export to Asia.
If the project goes ahead it is predicted to double PNG's gross domestic product and deliver $35 billion dollars to the Government and affected landowners over 30 years.
In a sign the venture is likely to get the green light, Exxon Mobil yesterday announced it had reached an agreement to sell PNG gas to the Tokyo Electric Power Company for 20 years.
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