Origin Energy Limited (Origin) today released its Quarterly Production Report for its Exploration and Production business for the quarter to 31 December 2011, reporting production of 29 petajoules equivalent (PJe) and sales revenues of $198 million.
Australia Pacific LNG, Origin's joint venture with ConocoPhillips and Sinopec, continued to reach major milestones with its coal seam gas to liquefied natural gas project during the quarter.
On 17 November 2011, Australia Pacific LNG signed a binding agreement with Kansai Electric Power Company for the sale and purchase of approximately 1 million tonnes per annum (mtpa) of LNG for 20 years. In addition, Australia Pacific LNG signed a non-binding Heads of Agreement with Sinopec on 12 December 2011 for the sale of a further 3.3 mtpa of LNG through to 2035, and additional equity taking Sinopec's ownership interest in Australia Pacific LNG from 15 per cent to 25 per cent. These agreements were converted to binding agreements on 20 January 2012, completing the marketing of Australia Pacific LNG's second LNG train.
Origin Energy Press Release
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