Responding to market speculation Origin Energy Limited
(ASX:ORG) has sought to boost confidence in its Australia Pacific LNG project amid concerns about China’s weakening demand for LNG.
The energy producer and retailer has highlighted the flexibility of the sale and purchase agreement with Sinopec and says it expects Sinopec will fulfil its obligations.
Origin has also confirmed Australia Pacific LNG project remains on track for sustained production from Train 1 in the second quarter of the 2016 financial year.
The project is an incorporated joint venture between Origin and ConocoPhillips (NYSE:COP) each with a 37.5 per cent stake and Sinopec with a 25 per cent interest.
Origin Energy reported a net profit of $1 million in the first half of the 2015 financial year.
