Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  AUSTRALIAN SECURITIES EXCHANGE LIMITED  >  Origin Energy Ltd    ORG   AU000000ORG5

SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

Australian LNG Project Secures $8.5 Billion Project Finance

share with twitter share with LinkedIn share with facebook
share via e-mail
0
05/24/2012 | 04:47am CET

--Export credit agencies, banks back US$20 billion LNG project

--Origin on track for plant expansion decision by mid-2012

(Recasts first paragraph, adds background throughout)

By Ross Kelly

Of

Export credit agencies in the U.S. and China have joined over a dozen banks to offer US$8.5 billion to an Australian joint venture planning to liquefy unconventional gas for export to Asia.

The massive project finance deal underscores the promise that Asia holds for investors spooked by Europe's ongoing sovereign debt woes and a fragile U.S. economic recovery. Asian demand for cleaner-burning fuels such as natural gas is expected to rise rapidly due to rapid industrialization in China and India, and traditional buyer Japan plugs gaps in its energy mix in the wake of the Fukushima nuclear crisis.

Origin Energy Ltd. (>> Origin Energy Limited), ConocoPhillips (COP) and China Petrochemical Corp., or Sinopec, aim to spend US$20 billion building the liquefied natural gas, or LNG, terminal at the port of Gladstone in Queensland state. It would be capable of producing 9 million metric tons of LNG each year.

Sinopec has already agreed to buy 7.6 million tons a year and Japan's Kansai Electric Power Co. (9503.TO) has agreed to buy 1 million tons annually.

The venture is one of around a dozen LNG projects slated for Australia, four of which will be fed at Gladstone by gas trapped in coal seams hundreds of meters underground.

Coal seam gas has never been liquefied for export on a large scale and the sheer scale of the financing package underscores lender confidence that Origin's venture will be overcome technical and environmental challenges to have its plant ready for startup in about three years.

Origin said Thursday the US$14 billion foundation stage of its joint venture, called Australia Pacific LNG, remains on track for completion in 2015. A final investment decision on an expansion to two LNG production units, to cost an additional US$6 billion, is on track for mid-2012, it said.

"Australia Pacific LNG's ability to secure US$8.5 billion in project finance from Australian and international lenders evidences the strength and quality of the project," Chief Executive Grant King said in a statement.

Lenders include the Export-Import Bank of the United States and Export-Import Bank of China.

The 15 banks include Australia's big four lenders and offshore banks including HSBC, Mizuho, Bank of Toyko-Mitsubishi UFJ and Societe Generale.

-By Ross Kelly, Dow Jones Newswires; 61-2-8272-4692; Ross.Kelly@dowjones.com

Stocks mentioned in the article : Origin Energy Limited
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on ORIGIN ENERGY LTD
12/02 ORIGIN ENERGY : Income Tax Transparency Report
12/02DJOrigin Energy's New CEO Makes Changes to Leadership Team
11/30 ORIGIN ENERGY : Helping customers move home quicker and easier
11/19 ORIGIN ENERGY : Kiss se apodera del Gasmart
11/19 ORIGIN ENERGY : Fans de Kiss conmienzan a llegar al Estadio Gasmart
11/16 ORIGIN ENERGY : Preparan regreso de Ricky a Tijuana
11/01 ORIGIN ENERGY : `s Revenue Surges On Aplng Production Jump
10/31 ORIGIN ENERGY : Australia Pacific LNG satisfies Train 1 project finance tests
10/31 ORIGIN ENERGY : Quarterly Production Report September 2016
10/30DJOrigin Energy Sales Revenue Jumps on Higher Production
More news
Sector news : Electric Utilities - NEC
11/25DJDOMINION RESOURCES : Saudi Arabia to Skip Meeting With Non-OPEC Producers
11/24 FROM BOOKS TO BANKS : Investors place bets against Italy meltdown
11/23 DRAX : Britain maintains carbon tax freeze until April 2021
11/21DJTsunami Alerts Lifted After Japan Earthquake
11/18DJABOITIZ POWER : Unit to Issue PHP4.1 Billion Worth of Bonds
More sector news : Electric Utilities - NEC
News from SeekingAlpha
10/10 ConocoPhillips' Australia Pacific LNG second unit starts production
09/08 REUTERS : Glencore, Origin put Chile hydropower business up for sale
01/11 ConocoPhillips ships first cargo from Australia Pacific LNG project
2015 Australia Pacific LNG on track to export this year, Origin Energy says
2015 Australia's Origin Energy to raise A$2.5B in debt reduction move
Advertisement
Financials ( AUD)
Sales 2017 12 364 M
EBIT 2017 1 084 M
Net income 2017 531 M
Debt 2017 8 683 M
Yield 2017 0,22%
P/E ratio 2017 22,15
P/E ratio 2018 13,06
EV / Sales 2017 1,62x
EV / Sales 2018 1,46x
Capitalization 11 388 M
More Financials
Chart ORIGIN ENERGY LTD
Duration : Period :
Origin Energy Ltd Technical Analysis Chart | ORG | AU000000ORG5 | 4-Traders
Full-screen chart
Technical analysis trends ORIGIN ENERGY LTD
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Technical analysis
Income Statement Evolution
More Financials
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 13
Average target price 6,37  AUD
Spread / Average Target -1,9%
Consensus details
EPS Revisions
More Estimates Revisions
Managers
NameTitle
Frank Calabria Chief Executive Officer & Managing Director
Gordon McKellar Cairns Independent Non-Executive Chairman
Gary Mallett Chief Financial Officer
Carl McCamish Executive GM-People & Technology Property
Helen M. Nugent Independent Non-Executive Director
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
ORIGIN ENERGY LTD37.45%8 488
DUKE ENERGY CORP2.84%50 582
DOMINION RESOURCES, IN..7.55%46 242
SOUTHERN CO-0.06%45 825
IBERDROLA SA-14.52%37 975
EXELON CORPORATION18.87%30 477
More Results