Origin May Sell Further Equity to Finance Expansion

Origin Energy is mulling a further stake sale for financing the expansion of Australia-Pacific LNG venture at Gladstone.

The company is planning to build a second processing unit at the multi-billion dollar project. The expansion process is expected to raise the capacity to 8.6 million tonnes of liquefied natural gas annually from 2016.

Recently, the company sold its equity to China's Sinopec, reducing its stake to 37.5 per cent  from 42 per cent preciously.

Origin and ConocoPhillips are the largest shareholders of the APLNG project, with Sinopec as a minority investor.