Origin Open to Selling More Equity in Australia LNG

Origin Energy may be willing to sell further equity in Australia Pacific LNG project to finance for expansion.

Chief executive Grant King told Dow Jones Newswires on the sidelines of a conference in Adelaide that Origin would contemplate some further dilution over the current 37.5 per cent interest that Origin owns in the project.

Any decision on an equity sell-down is unlikely before the company decides whether to invest in a second liquefied natural gas processing unit at the plant, which is being built at the port of Gladstone in Queensland, Dow Jone said citing King.

Origin and partners ConocoPhillips and China Petrochemical Corp (known as Sinopec) are in the early stages of building the Australia Pacific LNG project that will produce as much as 8.6 million tonnes of LNG at its peak.