LNG player raises cash
May 20 (LNG) - Origin Energy, a shareholder in the Australia Pacific LNG plant with ConocoPhillips of the US and China’s Sinopec, has entered into an agreement to sell the Mortlake Pipeline for $245 million in cash to SEA Gas Partnership. The Mortlake pipeline, which is currently operated by an affiliate of SEA Gas, supplies natural gas to Origin’s Mortlake power station in the state of Victoria. Origin has secured long-term gas transportation and storage services on the pipeline. Origin Managing Director Grant King said: “The sale of the Mortlake pipeline demonstrates progress against our stated intention to generate at least $800M through asset divestments including non-operated upstream interests and other infrastructure assets.”
LNG 18 hears $200Bln more to be spent and that security of supply must be guarded
A leading Australian energy industry executive, Grant King, told the LNG 18 conference in Perth that while $200 billion had been spent in building Australia up to be
the largest liquefied natural gas producer by 2018, the operators and stakeholders will be spending the same again in supporting these assets for the next 20
years.
