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 CEST

--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; [email protected]

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
05/23 ORIGIN ENERGY : signs deal to sell Darling Downs Pipeline for $291m
05/22 ORIGIN ENERGY LIMITED : - $392 million sale of Darling Downs pipeline lifts asse..
05/21 ORIGIN ENERGY : Sells Darling Downs Pipeline Network for A$392 million
05/19 ORIGIN ENERGY : $392 million sale of Darling Downs pipeline lifts asset divestme..
05/18DJOrigin Energy Caps Disposal Plans with Pipeline Sale
05/15 PEOPLE POWER : Closes Series B-1 Funding from innogy and Origin to Support Rapid..
05/15 ORIGIN ENERGY : Tax Contribution Report 2016
05/11 Elliott willing to back BHP board candidate as next chairman
05/10 XINJIANG GOLDWIND SCIENCE & TECH : to Build the Largest Wind Project in Australi..
05/09 ORIGIN ENERGY : Goldwind acquires 530MW Australian site
More news
Sector news : Electric Utilities - NEC
02:15pDJAMERICAN ELECTRIC POWER : Coal Mines Are Reimagined as a New Power Source
05/23 Westinghouse reaches deal for $800 million U.S. bankruptcy loan
05/19 European shares claw back gains after worst week in six months
05/19DJCLP : Australian State Fund Manager Seeks Damages From CLP Holdings Units
05/18DJNEXTERA ENERGY : Texas Regulators Not Likely to Revive Oncor Deal
More sector news : Electric Utilities - NEC
News from SeekingAlpha
04/19 Support grows for Australian cross-continent pipeline to combat gas shortages
04/13 Stock Market Overvalued? Fill Your Portfolio With Siegfrieds
03/09 This Country Is Caught In A Catch-22 With Energy
2016 ConocoPhillips' Australia Pacific LNG second unit starts production
2016 REUTERS : Glencore, Origin put Chile hydropower business up for sale
Advertisement
Financials ( AUD)
Sales 2017 12 806 M
EBIT 2017 1 195 M
Net income 2017 -976 M
Debt 2017 8 703 M
Yield 2017 1,18%
P/E ratio 2017 -
P/E ratio 2018 14,80
EV / Sales 2017 1,76x
EV / Sales 2018 1,56x
Capitalization 13 795 M
More Financials
Chart ORIGIN ENERGY LTD
Duration : Period :
Origin Energy Ltd Technical Analysis Chart | ORG | AU000000ORG5 | 4-Traders
Full-screen chart
Technical analysis trends ORIGIN ENERGY LTD
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Technical analysis
Income Statement Evolution
More Financials
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 11
Average target price 7,80  AUD
Spread / Average Target -0,81%
Consensus details
EPS Revisions
More Estimates Revisions
Managers
NameTitle
Frank Calabria Chief Executive Officer, MD & Director
Gordon McKellar Cairns Independent Non-Executive Chairman
Lawrence John Tremaine Chief Financial Officer
Carl McCamish Executive General Manager-Property & Technology
John H. Akehurst Independent Non-Executive Director
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
ORIGIN ENERGY LTD19.12%10 380
DUKE ENERGY CORP9.11%58 860
IBERDROLA SA11.57%50 548
DOMINION ENERGY INC4.07%50 130
SOUTHERN CO1.81%49 771
AMERICAN ELECTRIC POWE..10.53%34 135
More Results