Log in
Login
Password
Remember
Lost password
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 

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

End-of-day quote. End-of-day quote  - 02/12
3.64 AUD   -1.09%
12:52a ORIGIN ENERGY : Changes to Origin operating segments
02/11 ORIGIN ENERGY : Asset divestment update
02/11DJOrigin Energy to Sell Mortlake Terminal Station
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

Origin Agrees To Sell Gas To Rival Australian LNG Project

05/01/2012 | 07:15pm US/Eastern

Origin Energy Ltd. (>> Origin Energy Limited) has agreed to sell some of its vast coal seam gas reserves in Australia's Queensland state to a joint venture building a rival gas-export project on the coast.

The Australian company is building its own liquefied natural gas project with ConocoPhillips (COP) and China Petroleum and Chemical Corp. and has proven up more gas reserves than three rival ventures also planning to build LNG plants at the port of Gladstone.

Origin said it will sell some of its gas to Gladstone LNG, a joint venture between Australia's Santos Ltd. (>> Santos Limited), France's Total SA (TOT), Korea Gas Corp. (036460.SE) and Malaysia Petroliam Nasional Bhd.

Under the agreement, Origin will supply Gladstone LNG with 365 petajoules of gas over 10 years from 2015. Origin said the deal, for which a price hasn't been disclosed, gives Origin the option to call back 1.825 petajoules of gas a year during periods of high domestic gas or electricity demand.

The deal will cool analysts' concerns that Santos won't be able to prove up enough gas for its LNG joint venture.

Origin has already agreed to sell gas to BG Group PLC's (BG.LN) rival LNG project at Gladstone.

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

Stocks mentioned in the article : Origin Energy Limited, Santos Limited
React to this article
Latest news on ORIGIN ENERGY LTD
12:52a ORIGIN ENERGY : Changes to Origin operating segments
02/11 ORIGIN ENERGY : Asset divestment update
02/11DJOrigin Energy to Sell Mortlake Terminal Station
02/03DJMacquarie Sticks with Profit Guidance Amid 'Satisfactory' Conditions
02/02 Mosman Terminates Plan to Acquire South Taranaki Energy Project in NZ
02/01 MOSMAN OIL AND GAS : Terminates STEP Deal Amid Low Oil Price Environment
01/28DJOrigin Energy Revenue Falls Despite Rise in Output
01/28 ORIGIN ENERGY : Quarterly Production Report December 2015
01/21DJAustralia's Santos Seeks to Soothe Investor Worries; Shares Rise
01/21DJSantos Flags Writedowns, Ability to Ride Out Oil-Price Slump
Advertisement
News chart
Full-screen chart
Income Statement Evolution
More Financials