PNGBLOGS

Mathew Murphy, Sydney Morning Herald OIL SEARCH says a third processing train of liquefied natural gas at its $US15 billion ($16.7 billion) Papua New Guinea project could supply gas by as early as 2015, with a potential fourth train to follow shortly afterwards. As he released Oil Search's annual results for last year, which showed a 59 per cent drop in profit compared with 2008, managing director Peter Botten said the PNG project would reach financial close during the next month. He was confident that a final off-take agreement with Taiwan's CPC would be completed during that time and that ''two remaining issues'' would be resolved. The project, led by ExxonMobil, has attracted attention recently following the outbreak of violence between tribal groups that has left several people dead. Mr Botten said that despite an Oil Search employee being one of those killed in the violence, it had ''absolutely nothing to d

Mathew Murphy, Sydney Morning Herald OIL SEARCH says a third processing train of liquefied natural gas at its $US15 billion ($16.7 billion) Papua New Guinea project could supply gas by as early as 2015, with a potential fourth train to follow shortly afterwards. As he released Oil Search's annual results for last year, which showed a 59 per cent drop in profit compared with 2008, managing director Peter Botten said the PNG project would reach financial close during the next month. He was confident that a final off-take agreement with Taiwan's CPC would be completed during that time and that ''two remaining issues'' would be resolved. The project, led by ExxonMobil, has attracted attention recently following the outbreak of violence between tribal groups that has left several people dead. Mr Botten said that despite an Oil Search employee being one of those killed in the violence, it had ''absolutely nothing

AAP Papua New Guinea's most notorious criminal has alleged that triads are sponsoring political candidates for PNG's next elections. In an hour-long videotaped confession, seen by AAP, William Kapris tells PNG police he was a bag man for a network of Asian crime gangs and senior government ministers who planned and funded his major robberies. Kapris, who is facing trial for a series of high profile bank robberies and a jail escape, alleges syndicates such as the triads are linked to most PNG government institutions and agencies and use PNG's infamous 'rascals' for crimes. He alleges Asian mafia are funding political candidates for PNG's next elections in 2012. "There are five to ten guys like me who are now working with Asians," Kapris said. "I would help the network and prepare for (the) 2012 election. "We wouldn't remove the Prime Minister by gunpoint but th

AAP Papua New Guinea's most notorious criminal has alleged that triads are sponsoring political candidates for PNG's next elections. In an hour-long videotaped confession, seen by AAP, William Kapris tells PNG police he was a bag man for a network of Asian crime gangs and senior government ministers who planned and funded his major robberies. Kapris, who is facing trial for a series of high profile bank robberies and a jail escape, alleges syndicates such as the triads are linked to most PNG government institutions and agencies and use PNG's infamous 'rascals' for crimes. He alleges Asian mafia are funding political candidates for PNG's next elections in 2012. "There are five to ten guys like me who are now working with Asians," Kapris said. "I would help the network and prepare for (the) 2012 election. "We wouldn't remove the Prime Minister by gunpoin

Miyoko Sakashita  Center for Biological Diversity,  San Francisco, USA The Center for Biological Diversity, Pacific Environment, and Turtle Island Restoration Network have notified the U.S. Export Import Bank of their intent to sue the federal agency for financing a liquefied natural gas (LNG) project in Papua New Guinea without analyzing the project’s environmental impacts. “If we are going to address global warming, the United States needs to stop funding new fossil fuel projects,” said Miyoko Sakashita, oceans director at the Center for Biological Diversity. “Instead, taxpayer dollars are financing an immense natural-gas project with adverse impacts on wildlife and habitat.”  The Export Import Bank approved $3 billion to ExxonMobil and partners to develop an LNG project in Papua New Guinea — the largest transaction in the bank’s 75-year history. Shortly after pledging to reduce fossil fuel subsidies at the G20 conference in 2009, the Obama administration gave this record-breaking L

Miyoko Sakashita  Center for Biological Diversity,  San Francisco, USA The Center for Biological Diversity, Pacific Environment, and Turtle Island Restoration Network have notified the U.S. Export Import Bank of their intent to sue the federal agency for financing a liquefied natural gas (LNG) project in Papua New Guinea without analyzing the project’s environmental impacts. “If we are going to address global warming, the United States needs to stop funding new fossil fuel projects,” said Miyoko Sakashita, oceans director at the Center for Biological Diversity. “Instead, taxpayer dollars are financing an immense natural-gas project with adverse impacts on wildlife and habitat.”  The Export Import Bank approved $3 billion to ExxonMobil and partners to develop an LNG project in Papua New Guinea — the largest transaction in the bank’s 75-year history. Shortly after pledging to reduce fossil fuel subsidies at the G20 conference in 2009, the Obama administration gave this rec

Mark Drajem (Business Week)  Exxon Mobil Corp. and its partners in the $15 billion Papua New Guinea gas project last year paid the travel expenses for employees of the U.S. Export-Import Bank as it considered whether to help fund the venture. The four workers ran up $97,367 in bills traveling to London, Tokyo and the South Pacific, according to data compiled by the bank. They flew business class, viewed the project’s route by chartered aircraft and were entertained by costumed villagers. Eleven months later, the bank approved $3 billion in financing for the liquefied natural gas facility, the biggest transaction in the agency’s 75 years. Exxon Mobil, the biggest U.S. oil producer, isn’t alone in picking up the travel tab for the Washington-based bank. In the past two years, the bank accepted $366,865 for employee trips, according to information provided under a Freedom of Information Act request. Workers visited projects spo

Mark Drajem (Business Week)  Exxon Mobil Corp. and its partners in the $15 billion Papua New Guinea gas project last year paid the travel expenses for employees of the U.S. Export-Import Bank as it considered whether to help fund the venture. The four workers ran up $97,367 in bills traveling to London, Tokyo and the South Pacific, according to data compiled by the bank. They flew business class, viewed the project’s route by chartered aircraft and were entertained by costumed villagers. Eleven months later, the bank approved $3 billion in financing for the liquefied natural gas facility, the biggest transaction in the agency’s 75 years. Exxon Mobil, the biggest U.S. oil producer, isn’t alone in picking up the travel tab for the Washington-based bank. In the past two years, the bank accepted $366,865 for employee trips, according to information provided under a Freedom of Information Act request. Work

  Kevin Ming The Government is looking more comfortable with its numerical strength to hold onto power until 2012. However, a lot of us ordinary people are questioning why our leaders who know that there are a lot of issues that the national alliance coalition needs to come out clearly on, are supporting the pact. The Moti issue is undoubtedly an issue which the Government is trying to sweep under the carpet. For me as an ordinary citizen of this country I feel there is a lack of honesty in our leaders and those who were part of the whole saga. We know there are set procedures and a code of operation to follow in such a high level operation when involving the military onto foreign territory. So if our Prime Minister denies any knowledge of the operation then the buck comes back to the military command, the Prime Minister’s Chief of Staff and the NIO chief at the time. They at least knew how the operation was to be executed and under whose authority it has been carri