osh bargain , page-2

could only be goood ,hopefully it helps OSH.
Merril Lynch eyes PNG
Merril Lynch & Co., the world's largest brokerage firm, plans to invest in liquefied natural gas production plants as the US and Europe import more of the fuel.
Bloomberg.com reported yesterday that the New York-based firm is considering investing in plants in countries including Papua New Guinea, said Richard Jefferis, a Houston-based managing director of Merrill Lynch Commodities Inc.
The company earlier this year bought capacity at a Sempra Energy LNG import terminal being built in Louisiana, owns capacity at a UK terminal and is studying another LNG port in Europe.
Merrill Lynch is among investors positioning themselves for increased trading in LNG, a commodity traditionally dominated by rigid supply contracts that run for as long 25 years.
ExxonMobil Corporation and other companies are building enough terminal capacity to double imports into the US where domestic production has failed to keep pace with demand.
Bloomberg.com further reorted that ``In every business that we're in, we are physical players in the supply chain as well as financial players,'' Jefferis said in a Nov. 17 telephone interview. ``We look at LNG as something that we need to be in.''
Merrill Lynch handles about 5 per cent of all physical natural gas volumes traded in the US about 7 per cent of financial volumes and controls about 8 percent of US storage. Bloomberg.com reported that the company was looking to source LNG from several projects including the plant in Papua New Guinea, Jefferis said, declining to say how much Merrill Lynch was investing in the LNG venture or how large a stake it may take.
Merrill wants to build its LNG business to take advantage in trading of price differences between natural gas and oil, and between LNG markets in the Atlantic and the Pacific Basin, Jefferis said.
The proposed Papua New Guinea project may tap gas deposits in partnership with Canada's InterOil Corp. and Clarion Finanz AG of Switzerland.
InterOil, which operates Papua New Guinea's only oil refinery and has no certified oil or gas reserves, this month reported a net loss of $US7.6 million in the three months ended September 30, more than double the same period a year earlier.