didnt hear these comments..., page-11

re: didnt hear these comments - shg My little reference to this is that Exxon are running the show with this pipeline, they would use US$, and in late 2002 they expresed the view that the PNG gas would be more than competitive on price. Since late last year the Au$ has strengthened by something like 10% against the US$.

Hence PNG gas could be that much cheaper all things being equal. However, we have no actual knowledge of these agreements to know the real facts. Or at least I don't and therefore this is but an assumption. The cost of the pipline itself could be a different story. There is also the long term nature of these agreements to consider.

This is just about the limit of what I make of it without all the real facts being known.

cheers