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 - 12/19
11.51 AUD   +3.04%
3d agoDJAustralian State to Begin Power-Network Sale
3d ago ORIGIN ENERGY : Another milestone achieved in BassGas MLE project
5d ago ORIGIN ENERGY : Another milestone achieved in BassGas MLE project
SummaryQuotesChart AnalysisNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

Origin Energy: Australia LNG Project On Time, Within Budget

05/03/2012 | 10:30pm US/Eastern

Origin Energy Ltd. (>> Origin Energy Limited) said Friday there has been no change to the underlying cost estimate of its US$14 billion Australian gas-export joint venture project.

"The Australia Pacific LNG project is progressing on schedule to deliver first gas in 2015 and there has been no change in the cost of the underlying activities for the project, based on currency splits at the time of (final investment decision)," a spokeswoman for Origin said in an e-mailed statement.

BG Group PLC (BG.LN), which is building a rival Australian liquefied natural gas project in Queensland state, on Thursday announced a budget overrun of $5.4 billion, or 36%, to $20.4 billion.

Origin's project partners are ConocoPhillips (COP) and China Petroleum & Chemical Corp. (0386.HK), or Sinopec.

Origin shares were down 2% at 0208 GMT and Santos Ltd. (>> Santos Limited), which is involved in another rival LNG project, was down 3.5% .

The share price declines also come after West Texas Intermediate crude settled 2.6% lower Thursday at US$102.54 a barrel.

The Origin venture in July gave the green light for construction of their project's first phase, which the Australian energy company said will cost $14 billion to complete. The initial phase will include building the first of two planned LNG processing units, or trains, and some infrastructure to support the second train.

A full two-train project is expected to cost $20 billion, Origin said at the time.

A spokesman for Santos wasn't immediately available for comment.

-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
3d agoDJAustralian State to Begin Power-Network Sale
3d ago ORIGIN ENERGY : Another milestone achieved in BassGas MLE project
5d ago ORIGIN ENERGY : Another milestone achieved in BassGas MLE project
5d 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