Well our fields are the only others in Western Province, so the Western Gas Hub is us!
From MacQuarie OSH research note
Oil Search (OSH AU)Edging closer to the expansionEvent
In a media interview, PNG’s Petroleum Minister, Fabiak Pok, has stated thegovernment will conclude detailed terms for Papua by mid-March. Followingcomments by TOTAL’s CEO last week about being back in the region aroundApril, we see this as positive momentum building for the project.
Impact
Building to March. After TOTAL CEO’s comment last week that he would beback in the region around April, PNG’s Petroleum Minister, Fabian Pok, hashighlighted that the conclusion of the detailed terms for Papua LNG will beconcluded by mid-March at the PNG Petroleum and Energy Summit (March12-14). We see this as building towards de-risking the project and FEED.
Detail by detail A few additional details have been added compared to whathad been previously hinted at:
All future gas projects will include a domestic market obligation with 2 percent to 15 per cent of total resources targeted for domestic use with theproportion dependent on the level of gas and condensate reserves;
a National Petroleum Authority bill will be tabled in Parliament;
A gas hub should be created in Western with the P’nyang gas field playinga lynchpin role; Exxon has accepted a separate gas agreement for P’nyang, with newfiscal terms for up and downstream development.
(20min delay)