ORIGIN Energy has defended its extensive investment in Queensland coal seam gas in the face of growing shareholder antagonism.
Chairman Kevin McCann said some of the criticism of the industry was not supported by facts. He maintained that Origin's Australia-Pacific liquefied natural gas project in Gladstone was part of a broad solution to climate change.
Mr McCann said Origin's $6 billion venture with US counterpart ConocoPhillips met tough state government standards, but he was still forced to explain to shareholders at the annual meeting why sodium chloride and salt used in fraccing "are not harmful to humans".
He said he was confident in the joint partners' ability to deliver the project, affecting 65,000ha over many different properties.
Mr McCann also played down investor concerns over customer switching, known as churn, as a result of buying the NSW Country Energy and Integral Energy retailing businesses, claiming the rate had settled down.
Herald Sun
No comments:
Post a Comment