Member access

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

ORIGIN ENERGY LTD (ORG)

16
End-of-day quote. End-of-day quote AUSTRALIAN SECURITIES EXCHANGE LIMITED - 12/22
11.89 AUD   +3.30%
5d agoDJAustralian State to Begin Power-Network Sale
5d ago ORIGIN ENERGY : Another milestone achieved in BassGas MLE project
7d ago ORIGIN ENERGY : Another milestone achieved in BassGas MLE project
SummaryQuotesChart AnalysisNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
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
5d agoDJAustralian State to Begin Power-Network Sale
5d ago ORIGIN ENERGY : Another milestone achieved in BassGas MLE project
7d ago ORIGIN ENERGY : Another milestone achieved in BassGas MLE project
7d agoDJDof Gets Contracts For Four Vessels
12/10 ORIGIN ENERGY : Update on Amended Loan Facilities and APLNG
12/10DJAustralia's Santos Trims Spending as Oil Slips
12/09 ORIGIN ENERGY : confirms new gas discovery offshore Victoria
12/09DJPrice of LNG in Asia Lowest in Nearly Four Years
12/09 ORIGIN ENERGY : Confirms New Gas Discovery Offshore Victoria
12/04 ORIGIN ENERGY : and NSW SES join forces to recruit next generation of volunteers
Advertisement
Chart
Duration : Period :
Origin Energy Ltd Technical Analysis Chart | ORG | AU000000ORG5 | 4-Traders
Income Statement Evolution
More Financials
Dynamic quotes  
ON
| OFF