Member access

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


SummaryQuotesChart AnalysisNewsCalendarCompanyFinancialsConsensusRevisions 

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;

Stocks mentioned in the article : Origin Energy Limited, Santos Limited
Recommend :
React to this article
Latest news on ORIGIN ENERGY LTD
1d ago ORIGIN ENERGY : works with Cape York Rangers to locate rare Jardine River Painte..
6d ago ORIGIN ENERGY LIMITED : ex-dividend day for final dividend
08/22 ORIGIN ENERGY : Update for holders of hybrid Euro Capital Securities due 2071 an..
08/20 ORIGIN ENERGY : Subordinated Notes - Key Financial Ratios
08/20DJOrigin Energy Annual Profit Hit by Weather
08/20 ORIGIN ENERGY : reports $530 million Statutory Profit and $713 million Underlyin..
08/20DJOrigin Energy Annual Profit Hit by Weather
08/19 CONTACT ENERGY : likely to delay geothermal power project on Maori land
08/11 ORIGIN ENERGY : completes acquisition of gas exploration interests in WA's Brows..
08/04 CONTACT ENERGY : 2014 Annual Meeting and Director Nominations
Duration : Period :
Origin Energy Ltd Technical Analysis Chart | ORG | AU000000ORG5 | 4-Traders
Income Statement Evolution
Origin Energy Ltd : Income Statement Evolution
More Financials
Dynamic quotes