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« Cabinet approves sea floor mining in PNG | Main | Melanesia group to expand Pacific influence »

31 March 2011

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LNG attracts transtional crimes and terrorism. The LNG project is driven by Exxon Mobil which makes it more vulnerable to security risks.

The US geostrategic and economic theatre is a target of terrorist organisations. PNG lacks a security buffer system.

PNG must project strategic capability to manage new security challenges. PNG should bargain for strategic cooperation with the US and other partners such as China (if agreement is approved) and Japan.

Exciting stuff, eh? The present turmoil in the Middle East is threatening the continuity of oil flows to USA and Europe etc.

Just last night, President Obama was trumpeting the promise of reducing dependence on overseas oil in the next little while. Pledging to find new, local, sources and open up more known reserves he was hedging against economic upheaval in the face of already mounting costs of oil at the pump.

With prices likely to reach the $150-$200 per barrel mark, it is likely future energy costs will be prodigious. It is highly unlikely that oil companies will be charitable and sell at discounted rates.

All this to say that, along with PNG's pipeline projects, Australia too is constructing similar projects so the pundits project a lucrative future for these oil supplies to demanding economies but quite likely at punitive prices to the end consumers. Hmm!

What were the criteria requiring a very expensive, high security risk 850km pipeline rather than putting the infrastructure development within the Gulf Province which was under developed? Puzzled.

Arthur Williams - Lavongai & Cardiff

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