GAS

More big PNG gas deals on the horizon

TWO large resources companies in Gladstone, Queensland - Comalco and Queensland Alumina Refinery ...

A PNG ministerial delegation returned to the country after conducting the PNG gas road-show in Queensland. They also described the road-show as “a resounding success”, The National reported.

Deputy Prime Minister and minister responsible for petroleum, Sir Moi Avei, said the Queensland roadshow had been a “big boost” for the PNG pipeline project and a major announcement was expected next week.

Planning minister Arthur Somare said the regional city of Gladstone was a particularly promising market that had a growing population of 50,000 and was the fastest growing industrial city in Australia.

According to Somare, Gladstone about A$18 billion worth of projects planned for the next five years.

“We have two particular customers there; one [Queensland Alumina Refinery] is shortly to enter into a full sales agreement, and they are taking up the reasonable size of the supplies that is going down to Australia,” Somare said.

The other potential customer in Gladstone was Comalco, the newspaper said.

The first supply of gas from the PNG-to-Queensland project is expected to reach Australia in 2009.

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