One of Australia’s most respected energy company chief executives, Grant King of Australia Pacific LNG joint venture partner Origin Energy, said the project in the state of Queensland probably over-stretched the company’s resources, though was now performing better than expected.
Australia Pacific LNG, whose shareholders are ConocoPhillips, China’s Sinopec and local company Origin Energy, said it shipped its first cargo from the second processing Train that gives the plant a total nameplate capacity of 9 million tonnes per annum.
Origin Energy, a stakeholder in the Australia Pacific LNG plant with China’s Sinopec and ConocoPhillips, named Frank Calabria as its next Chief Executive and Managing Director following the decision of incumbent Grant King to retire.
Origin Energy, a stakeholder in the Australia Pacific LNG plant in Queensland with ConocoPhillips and China’s Sinopec, narrowed fiscal 2016 full-year losses to $589 million compared with $658M the previous year.