Origin Energy Limited (ASX:ORG) has inked a deal to sell liquefied natural gas from its Australia Pacific LNG project at Gladstone to Japanese utility Kansai Electric Power Company.
The Origin led venture is poised to supply Kansai Electric with about 1 million tonnes of LNG annually for 20 years, starting from 2016.
The sales deal is the second for Australia Pacific LNG but conditional on it making a final investment decision on the second phase of the project.
Origin’s Managing Director Grant King says the deal indicates the strength of LNG demand from Asia and is another milestone in the project’s progress to a two train development.
Origin reported a net profit of $823 million in first half of its 2012 financial year.