LNG to power mining
The National, Friday 31st May 2013
By GYNNIE KERO
THE natural gas from the Stanley gas field will generate power for regional mining operations and rural electrification in Western, Horizon Oil says.
Horizon revealed this yesterday in Port Moresby following the approval of the Stanley project development licence application by Environment and Conservation Minister John Pundari.
“We are very pleased to have received ministerial approval in Principle for the Stanley Gas Project which represents an important milestone in the regulatory approval process.
Condensate from the Stanley gas field is expected to be sold to the Napanapa refinery, with the high diesel yielding condensate enhancing PNG’s energy independence.
Conversion by Ok Tedi Mining Ltd (OTML) to gas-fired power, displacing expensive diesel-fired generators could bring about estimated savings in energy costs to Ok Tedi of about A$1 billion (K2.1 billion) over 20 years.