Origin Energy Says LNG Project On Track to Export This Year

   By Robb M. Stewart 
 

MELBOURNE, Australia--A third huge natural-gas export project built on Australia's east coast has begun production, leaving it on track to ship its first cargo of liquefied natural gas by the end of the year, venture partner Origin Energy Ltd. said Friday.

The 24.7 billion Australian dollar (US$17.9 billion) Australia Pacific LNG project will be the final of the three LNG ventures in tropical Queensland to begin shipping cargoes this year, after BG Group PLC's US$20.4 billion QCLNG project began exporting at the start of the year and the first shipment left Santos Ltd.'s US$18.5 billion Gladstone LNG venture in mid-October.

"Australia Pacific LNG has now achieved its last major milestone prior to exporting LNG to customers in Asia," David Baldwin, the chief executive of Origin's integrated gas division, said.

The project--which chills natural gas at a plant on Curtis Island that is piped from within seems of coal deposits, located in two basins in Queensland state--is owned by Origin and ConocoPhilips, which each hold 37.5% stakes, and China's Sinopec with a 25% interest.

Write to Robb M. Stewart at [e-mail]

(END) Dow Jones Newswires

December 10, 2015 17:28 ET (22:28 GMT)

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