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| FID On Train 2 At Australian AP-LNG To Be Made By Mar 2012 |
| =Discussion underway to fix sales destination |
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Final investment decision (FID) on train 2 at "Australia-pacific LNG (AP-LNG) Project", a coal seam gas (CSG) to liquefied natural gas (LNG) project in Australia is expected to be made by March 2012. Australia's Origin Energy, which has promoted the project, is scheduled to start operations of train 2 around 2016 and has been continuing discussion in an effort to fix the sales destinations of LNG. AP-LNG Project, with production capacity of 9 million tons per year, consisting of two 4.5 million tpy trains, is owned 42.5% by Australia's Origin and 42.5% by the US ConocoPhillips. In addition, China Petroleum and Chemical Corporation (SINOPEC) decided to have 15% interest in the project. On top of that, SINOPEC will purchase 4.3 million tpy of LNG produced at train 1 of AP-LNG. After sales destination of LNG produced at train 1 was fixed, Origin and other companies made FID on phase 1 including train 1 and the associated infrastructure this July. The amount of investment in phase 1 is 14 billion dollars. Origin and others plan to fix sales destinations of LNG, that will be produced at train 2, by next March and additionally invest 6 billion dollars. |
| last modified : Mon 31 Oct, 2011 [13:23] |
