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
02/27 AWE & Origin Agree First Gas Sales Term Sheet for Waitsia Stage 2
02/27 AWE and Origin agree first gas sales term sheet for Waitsia Stage 2
02/23DJVECTOR : 1st Half Net Profit Rises
02/23 ORIGIN ENERGY : recognised for outstanding Indigenous internship program
02/18 ORIGIN ENERGY : posts $1.7 billion loss
02/17 ORIGIN ENERGY : To avoid blackouts, overhaul the electricity market, says Origin..
02/17 BHP BILLITON : Changes to the BHP Billiton Board
02/17 FALCON OIL & GAS LTD. : - Beetaloo Basin Drilling Results Indicate Material Gas ..
02/17 ORIGIN ENERGY : signs up for 200MW solar plant in S.A, as PPA prices tumble
02/16 FALCON OIL & GAS LTD. : Beetaloo Basin Drilling Results Indicate Material Gas Re..
More news
Sector news : Electric Utilities - NEC
02/27DJCLP : 2016 Net Profit HK$12.71 Billion
02/26DJIBERDROLA : Wind Farm Divides North Carolina Republicans
02/22 British Gas to launch 100 million pound customer loyalty scheme
02/22 Britain's Ofgem has power to impose energy tariff price cap - CEO
02/22DJSOUTHERN : Profit Falls
More sector news : Electric Utilities - NEC
News from SeekingAlpha
2016 ConocoPhillips' Australia Pacific LNG second unit starts production
2016 REUTERS : Glencore, Origin put Chile hydropower business up for sale
2016 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$2.5B in debt reduction move
Advertisement
Financials ( AUD)
Sales 2017 12 665 M
EBIT 2017 1 191 M
Net income 2017 -754 M
Debt 2017 8 730 M
Yield 2017 0,24%
P/E ratio 2017 -
P/E ratio 2018 12,60
EV / Sales 2017 1,59x
EV / Sales 2018 1,43x
Capitalization 11 460 M
More Financials
Chart ORIGIN ENERGY LTD
Duration : Period :
Origin Energy Ltd Technical Analysis Chart | ORG | AU000000ORG5 | 4-Traders
Full-screen chart
Technical analysis trends ORIGIN ENERGY LTD
Short TermMid-TermLong Term
TrendsBearishBullishBullish
Technical analysis
Income Statement Evolution
More Financials
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 12
Average target price 7,14  AUD
Spread / Average Target 9,4%
Consensus details
EPS Revisions
More Estimates Revisions
Managers
NameTitle
Frank Calabria Chief Executive Officer & Managing Director
Gordon McKellar Cairns Independent Non-Executive Chairman
Lawrence John Tremaine Chief Financial Officer
Carl McCamish Executive GM-People & Technology Property
Helen M. Nugent Independent Non-Executive Director
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
ORIGIN ENERGY LTD0.15%8 801
DUKE ENERGY CORP5.59%56 397
SOUTHERN CO2.66%49 265
DOMINION RESOURCES, IN..0.54%48 178
IBERDROLA SA-2.01%42 923
EXELON CORPORATION4.76%33 764
More Results