LNG

Feb 19 (LNGJ) - Beach Energy, the emerging Australian natural gas player and buyer of Origin Energy’s Lattice oil and gas spin-off, posted a 7 percent decline in first-half net profits for fiscal 2018 to A$95.7 million (US$74.7M) versus A$103.4 in the previous first half. One of Beach’s main assets is its joint venture equity stake in the onshore Waitsia natural gas project in Western Australia with AWE Ltd, a company expected to be taken over by Japan’s Mitsui & Co. Beach acquired the Lattice assets for US$1.25 billion from Origin, a stakeholder in the Australia Pacific LNG plant, and the move doubled Beach’s size and established it as a major supplier of gas to domestic markets.