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 newsTweets

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
11/20 ORIGIN ENERGY LAUNCHES HOME HQ : an Aussie smart home starter kit
11/20 PEOPLE POWER : Brings New Smart Home Service to Australian Consumers With Innova..
11/07 ORIGIN ENERGY : Wins 2017 Constellation SuperNova Award for Digital Transformati..
11/03 ORIGIN ENERGY : makes it quicker and easier to compare electricity bills
11/02 ORIGIN ENERGY LIMITED : - Quarterly Production Report September 2017
10/31 ORIGIN ENERGY : lifts oil and gas revenue with APLNG ramp up
10/30DJBeach Energy Revenue Boosted by Higher Prices
10/30 ORIGIN ENERGY : Quarterly Production Report September 2017
10/30DJOrigin Quarterly Revenue Jumps On-Year as APLNG Ramps Up
10/27 ORIGIN ENERGY : bolsters eastern gas supply with Australia Pacific LNG supply de..
More news
News from SeekingAlpha
11/17 New Technology Breakthroughs And Issues In Energy Production
10/18 Origin Energy (OGFGY) Investor Presentation - Slideshow
09/28 Beach Energy buys Origin Energy gas assets for $1.25B
09/27 Australia will not impose export curbs on east coast LNG producers
08/16 Origin Energy Ltd. ADR 2017 Q4 - Results - Earnings Call Slides
Financials ( AUD)
Sales 2018 14 356 M
EBIT 2018 1 577 M
Net income 2018 835 M
Debt 2018 6 786 M
Yield 2018 0,56%
P/E ratio 2018 16,63
P/E ratio 2019 12,79
EV / Sales 2018 1,47x
EV / Sales 2019 1,37x
Capitalization 14 379 M
Chart ORIGIN ENERGY LTD
Duration : Period :
Origin Energy Ltd Technical Analysis Chart | ORG | AU000000ORG5 | 4-Traders
Technical analysis trends ORIGIN ENERGY LTD
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 11
Average target price 8,38  AUD
Spread / Average Target 2,4%
EPS Revisions
Managers
NameTitle
Frank Calabria Chief Executive Officer, MD & Director
Gordon McKellar Cairns Independent Non-Executive Chairman
Greg Jarvis Executive GM-Energy Supply & Operations
Lawrence John Tremaine Chief Financial Officer
Carl McCamish Executive General Manager-Property & Technology
Sector and Competitors
1st jan.Capitalization (M$)
ORIGIN ENERGY LTD24.13%10 844
DUKE ENERGY CORP14.04%62 058
DOMINION ENERGY INC6.18%52 222
SOUTHERN CO3.62%51 366
IBERDROLA3.79%47 914
EXELON CORPORATION16.26%39 731