Norway launches country group to fight deforestation

Google/AFP

OSLO — Norwegian Prime Minister Jens Stoltenberg said Tuesday he would put together a group of the world's most important rainforest countries in order to fight deforestation.

The group, initiated "as part of our efforts to reach a binding climate agreement in Mexico in 2010," will consist of "the most important rainforest countries, among them Brazil, Indonesia, Guyana, Gabon, Papua New Guinea and others," Stoltenberg said in a statement.

"Developing countries represent 17 percent of the total emission of greenhouse gases," he said, adding "efforts related to rainforests may lead to one third of the emission cuts needed by 2020."

Norway, one of the world's leading oil and gas exporters, has made the fight against deforestation one of its top climate change priorities.

The Scandinavian, non-EU country argued Tuesday that reducing deforestation may lead to the "largest, quickest and cheapest cuts in greenhouse gas emissions."

At the UN Climate summit in Copenhagen, Norway said it would unblock one billion dollars as part of a 3.5 billion dollar aid package to fight deforestation, put together by the United States, Britain, France, Australia and Japan.

The Norwegian prime minister, speaking at his bi-annual press conference, said the deal reached in Copenhagen had "great weaknesses" but that it was an "important step" in the fight against climate change.

Stoltenberg said two of the greatest weaknesses of the last-minute deal reached in Copenhagen were the lack of numbered targets for the reduction of greenhouse gas emissions and the absence of a legally binding agreement.

He however lauded the international consensus of world leaders to tackle climate change, the involvement of emerging countries, developed countries' financing promises and control measures.

ExxonMobil Announces Approval on PNG LNG Project

Welt Online

Exxon Mobil Corporation (NYSE:XOM) announced today that the co-venturers have agreed to proceed with the development of the Papua New Guinea (PNG) liquefied natural gas (LNG) project, pending completion of sales and purchase agreements with LNG buyers and finalization of financing arrangements with lenders.

At a ceremony at the PNG National Parliament House in Port Moresby, Peter Graham, managing director of Esso Highlands Limited, an ExxonMobil subsidiary, announced that pending completion of these sales and financing arrangements, significant project activity will commence in 2010. Esso Highlands is the operator of the project.

"With global demand for LNG forecast to nearly triple by 2030, the PNG LNG Project will be an important supply source to meet this future demand, particularly for the economies in the fast growing Asia Pacific region,” said Neil Duffin, president of ExxonMobil Development Company. "The supply of cleaner-burning natural gas will also be critical in helping reduce global emissions. The co-venturer approval of the PNG LNG Project is a significant milestone. We look forward to applying our world-class execution capabilities and continuing to work together cooperatively with the PNG government to bring this resource to production.”

PNG Prime Minister Sir Michael Somare presided over the announcement ceremony, attended by PNG government ministers and governors. Somare said, "Project operator ExxonMobil and our other private sector development partners have shown significant confidence in our country. Cooperation between the public and private sectors will create value for the Papua New Guinea society as a whole and will grow our economy in the future.”

The PNG LNG Project is an integrated development that includes gas production and processing facilities, onshore and offshore pipelines and liquefaction facilities with capacity of 6.6 million tons per year. Participating interests include affiliates of ExxonMobil (including Esso Highlands Limited as operator, 33.2 percent), Oil Search Limited (29.0 percent), Independent Public Business Corporation (PNG Government, 16.6 percent), Santos Limited (13.5 percent), Nippon Oil Exploration (4.7 percent), Mineral Resources Development Company (PNG landowners, 2.8 percent) and Petromin PNG Holdings Limited (0.2 percent).

ExxonMobil is currently participating in LNG production in Qatar and Indonesia with a combined gross capacity of over 50 million tons per year, supplying markets in Asia, Europe and North America. The company is also participating in the development of LNG in Australia. Global LNG demand is expected to grow about 4 percent per year through 2030, at which time LNG is expected to meet about 15 percent of the world’s demand for natural gas.

CAUTIONARY STATEMENT: Statements in this release relating to future plans, expectations, events or conditions are forward-looking statements. Actual results, including project plans, the impact of new technologies, and demand growth, could differ materially due to changes in long-term oil or gas prices or other market conditions affecting the oil and gas industry; political events or changes; actions of competitors; timely completion of development projects; the outcome of commercial negotiations; and other factors discussed under the heading "Factors Affecting Future Results" on the "Investors" section of our website (www.exxonmobil.com) and in Item 1A of ExxonMobil's most recent 10-K. References to volumes of natural gas include amounts that are not yet classified as proved reserves but that we believe will ultimately be produced.

About ExxonMobil

ExxonMobil, the largest publicly traded international oil and gas company, uses technology and innovation to help meet the world’s growing energy needs. ExxonMobil holds an industry-leading inventory of resources, is the largest refiner and marketer of petroleum products, and its chemical company is one of the largest in the world.

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China's Sinopec secures gas from Exxon Mobil in PNG

BBC News, By Chris Hogg, Shanghai

The Chinese government owns 75% of Sinopec's shares

China's second biggest oil and gas company has secured a 20-year supply of gas from Papua New Guinea.

It is the latest in a series of moves by Chinese companies to secure resources to feed the country's growing economy.

Sinopec, which is owned by the Chinese government, will buy around 2m tonnes of liquefied natural gas each year.

The LNG supply will come from a project being developed by Exxon Mobil and other investors.

When cold weather came to China earlier than usual this year, gas shortages were reported in several parts of the country.

Only the timing was unusual. There are similar problems every year.

Energy hunger

China's economy is expected to grow 8% in 2009.

That pace of growth puts increasing pressure on supply of resources like oil and gas.

This deal will help Sinopec to meet the demand from its customers, the company says.

The gas will be chilled to a liquid in Papua New Guinea and shipped to a port in eastern China where it will be converted back and piped to where it is needed.

Earlier this year another big Chinese energy company, PetroChina Limited, secured a similar deal to buy $41bn (£24.8bn) worth of natural gas from Australia. It is not clear yet how much PetroChina is paying to secure this new supply.

Chinese companies have signed contracts to import oil and gas from the Gulf, Africa, Central Asia and elsewhere.

They are often prepared to consider deals that firms from Western countries might not be so interested in, either because of political considerations, or other logistical difficulties.

Analysts point out that as supplies of oil and gas become more scarce, the Chinese, relatively late entrants into the global effort to secure dwindling resources, often have little choice but to deal with whoever is prepared to talk to them.

Japan`s Cosmo Oil to invest US$800 mln in PNG biofuel project

Port Moresby (ANTARA News/Asia Pulse) -- Japan-based Cosmo Oil Co Ltd (TSE:5007) is set to invest US$800 million in the development of a starchy crop as raw material for biofuel production in Papua New Guinea, reports The National.

However, the project can only start in another three-and-half years as pre-feasibility studies have to be done for six months to gather necessary data on appropriate crops, raw material and appropriate soil type, after which a three and half years' long full-scale analysis on the chosen raw materials will be carried out.

Crops for analysis included corn, cassava and peanut.

World’s Maritime Experts Gather in Manado

Thursday, 12 March, 2009 | 18:08 WIB

TEMPO Interactive, Jakarta:The results of the 2009 World Ocean Conference (WOC) in Manado will be brought to the United Nations’ Conference on Climate Change in Copenhagen, Denmark, this December. “The conference in Manado will discuss the role of oceans in the global climate change,” said Indroyono Soesilo, National Committee secretary of the conference, which will take place in May 11 – 15, 2009.

At the 13th Climate Change Conference in Bali on December 2007, the discussion on oceans’ role was minimal. Indonesia then took the initiative to host the WOC. The maritime conference in Manado is the first to take place and is planned to be held annually. Meanwhile, the Climate Change Conference has been held 14 times, the last one being in Poznan, Poland, last December. The conference in Copenhagen is very important as it becomes the new basic reference when the Kyoto Protocol ends.

Until yesterday, 700 delegates from 146 countries confirmed their preparedness to come to Manado, North Sulawesi. Also to attend the event will be the presidents of member countries of the Coral Triangle Initiative (CTI), including Indonesia, Malaysia, the Philippines, East Timor, Papua New Guinea and the Solomon Islands. CTI partners, the United States and Australia also plan to attend. However, the US delegation will not be led by President Barack Husein Obama.

One of the WOC’s events will be a symposium on science and international maritime technology. “There will be 32 parallel sessions to discuss 610 papers,” said Aryo Hanggono, Maritime Technology Research Center chief at the Maritime and Fishery Department. Around 300 speakers will come from overseas.

The scientists will discuss various maritime issues, including marine life beings as sharks and stingrays, aqua culture, bio-technology, energy, coelacanth, CO2 sink, health and bio-medic, the Darwin and Wallace theories and the impact of climate change. The conference will also feature exhibitions on science and technology, the maritime industry, maritime festival, and maritime education for the youths in three research ships. According to Aryo, when the conference in Manado is finished, his department will organize maritime campaigns for youths in the country.

UNTUNG WIDYANTO

RI receives $250 million in grants for World Ocean Conference

The Jakarta Post | Fri, 02/27/2009 8:12 PM  

Indonesia has received US$250 million in grants from various countries for the implementation of the World Ocean Conference which will be held in Manado, North Sulawesi, on May 11-15, 2009. 

"Of the total, US$40 million is from the United States," Indroyono Soesilo, chairman of the WOC organizing committee, said in Jakarta on Thursday as quoted by state news agency Antara. 

Six heads of state from member countries of the Coral Triangle Initiative (CTI) would participate in the CTI Summit to be organized on May 15, in parallel with WOC, he said. 

CTI has six member countries, namely the Philippines, Indonesia, Malaysia, Papua New Guinea, Timor Leste, and Solomon Island. Australia and the United States are observers of CTI. 

He also said that US President Barack Obama had appreciated Indonesia's Coral Triangle Initiative. 

North Sulawesi Governor Sandurajang said his province was ready to receive around 1,500 participants from 121 countries during the WOC 2009. 

The province had constructed new eight star-rated hotels to accommodate the WOC participants, he said. 

Marine experts would discuss efforts to save the marine ecology from the impacts of the global warming during the conference.

WOC Website


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CTI initiated by Indonesia: president