HOUSTON--()--ConocoPhillips (NYSE: COP) today announced the sanction of development of a second 4.5 million tonnes per annum (MTPA) production train for its Australia Pacific LNG coal seam gas (CSG) to liquefied natural gas (LNG) project in Queensland, Australia.
“This announcement marks another important milestone for the Australia Pacific LNG project and ConocoPhillips,” said Ryan Lance, chairman and chief executive officer. “Sanctioning of the second train is the final step in the approval process for the project. From this point we are committed to the development and construction of all infrastructure and facilities to ensure the first delivery of LNG in 2015.”
LNG exports from the second train are scheduled to commence in early 2016 under binding sales agreements to Sinopec Corp. and Kansai Electric Power Company (Kansai Electric).
“The Australia Pacific LNG project is on schedule, and is strategically positioned to commercialize its superior CSG reserve position and satisfy Asia’s rapidly growing demand for reliable, cleaner-burning energy,” Lance said. “The approval of Sinopec Corp.’s additional subscription is testament to the strong growth market in China and the importance of Sinopec Corp. as a key partner. We look forward to further developing our relationship over the next 20 years.”
Sanction of the second LNG train includes the further development of related upstream gas gathering and processing infrastructure as well as the construction of the second production train by Bechtel.
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