Tuesday, August 9

ConocoPhillips Sanctions Australia Pacific LNG Project

HOUSTON, Jul 28, 2011 (BUSINESS WIRE) -- ConocoPhillips [NYSE:COP] today announced approval of the final investment decision for the initial train of a two train liquefied natural gas (LNG) 9.0 million tonnes per annum (MTPA) project by Australia Pacific LNG in Queensland, Australia.

Project sanction includes development of the necessary resources from Australia Pacific LNG's 24 trillion cubic feet of coal seam gas (CSG) resources in the Surat and Bowen Basins to supply the first train requirements, installation of a transmission pipeline from the onshore gas fields to the LNG facility on Curtis Island and infrastructure commitments to support a second train.   Read More

Market Watch.com

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