PNG Agreement to be honored - full steam ahead, page-3

The significance of the ann is that the 3rd party access but also that the parties will now move quickly on to finalise the P’nyang arrangements. PNG are likely to play hardball on this given that they gave in completely on the PNG LNG deal. However with P’nyang finalised it is tantalising that the planned pipeline route from P’nyang to the PNG LNG facilities passes within 20 kilometres of the Ketu field, part of its Western LNG project planning.
The WLNG includes the resources in the Stanley, Elevala, Ketu and Ubuntu fields to the south of the P’nyang gas field. The gross appraised resource is 2,200 PJ of gas and 64 million barrels of condensate that are intended to supply gas to the WLNG. Should the WLNG go ahead HZN would be 50 cps ++.
We know the obstacles with PDL10 Stanley etc but it's likely that Repsol and partners will win the licence back, then Respol will go ahead with the sale of its share and the new Chinese partner will plough cash into the WLNG to bring it to fruition.

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