Origin reports Australia Pacific LNG has signed a new agreement

Company News

by Rachael Jones

Origin (ASX:ORG) advises that Australia Pacific LNG, in which Origin holds a 37.5 per cent interest, has signed long term infrastructure sharing arrangements with the QCLNG project, as well as an agreement to secure additional gas supplies for Australia Pacific LNG.

Under the tolling agreements, the QCLNG project will be able to transport and process gas and water from the Arrow Energy Surat Basin fields using available capacity in existing Australia Pacific LNG-QCLNG joint infrastructure.
The infrastructure sharing arrangements will start in 2020 and continue until 2035, with options to extend to the end of 2049.

Australia Pacific LNG is Queensland’s largest LNG project, and one of the biggest gas suppliers to the domestic market. In 2018, Australia Pacific LNG supplied close to 30 per cent of total east coast gas demand.

Shares in Origin (ASX:ORG) closed -1.11 per cent lower to $7.14 on Friday.
 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.