Origin Energy takeover by North American funds EIG of US and Canada’s Brookfield faces delays on several fronts
Australian regulators and constantly shifting government energy policies are causing extensive delays that endanger the completion of the A$18.7 billion (US$12.25Bln) takeover of Origin Energy by a North American consortium of investment funds and with a resultant side-deal also giving Saudi Aramco access for the first time to the liquefied natural gas sector.
Saudis make two large natural gas field discoveries after also entering LNG sector and starting shale gas project
Saudi Energy Minister Prince Abdulaziz bin Salman said Saudi Arabian Oil Co., known as Saudi Aramco, has made two large natural gas field discoveries after recently also entering the LNG sector while additionally starting output in a Saudi shale gas basin called South Ghawar.
Korea’s POSCO suspends A$1Bln investment in Queensland gas and LNG hub over Government cap plan
Senex Energy, a leading coal-seam gas company controlled by South Korea’s POSCO International in the onshore Surat Basin of Queensland and which is part of the Gladstone LNG upstream supply chain, said it would have to suspend its A$1 billion (US$670 million) investment plan because of the Australian government gas price cap and market interference.
South Korean steel-maker POSCO succeeds in bid for Australian feed-gas supplier Senex and LNG volumes
Senex Energy, the Australian coal-seam gas company in Queensland with an stake in Gladstone LNG, has entered into a binding with agreement with South Korea’s POSCO International for a cash offer price of A$4.60 per share.
