APLNG to make landmark gas deal
ORIGIN Energy and ConocoPhillips are expected to announce the companies have sealed an LNG export deal with China's Sinopec that could be worth $90 billion.
The joint venture between Origin Energy and ConocoPhillips involves the development of Australia Pacific LNG’s substantial CSG resources in the Surat and Bowen Basins; building a 450 km transmission pipeline; and construction of a multi-train LNG facility on Curtis Island.
Origin chief executive Grant King, Federal Resources Minister Martin Ferguson and ConocoPhillips production and exploration chief, Ryan Lance, have scheduled a press conference for 4:15pm this afternoon in Brisbane.
Origin has gone into a trading halt after closing yesterday at $16.23. Origin refused to comment on the purpose of the trading halt, other than to say it was about to make an announcement concerning the project.
In February, APLNG said the company will pursue high environmental, community consultation and development standards not only during the construction period but also throughout the ongoing operational life of the project.