The project involves the development of APLNG’s CSG resources in the Surat and Bowen basins, building a 450 km transmission pipeline and construction of a multi-train LNG facility on Curtis Island, near Gladstone.
APLNG Project Director Page Maxson said “APLNG will pursue high environmental, community consultation and development standards not only during the construction period but also throughout the ongoing operational life of this exciting project.”
China Petrochemical Corporation (Sinopec) will become a partner in the APLNG joint venture – along with Origin and ConocoPhillips –following the signing of a Heads of Agreement (HoA) for the supply of up to 4.3 MMt/a of LNG for 20 years from the project.
Under the HoA, Sinopec will take a 15 per cent ownership interest in the project, thereby reducing the ownership interests of ConocoPhillips and Origin Energy to 42.5 per cent each.
The HoA has established non-binding key commercial terms which will be incorporated into binding agreements in “the near future”, according to the APLNG venture.
ConocoPhillips Chairman and Chief Executive Jim Mulva said “With the underpinning of Sinopec, a world-class energy company, along with the recent approval of our environmental impact statement by the Australian authorities, we now expect to rapidly progress the project to sanction, with the first LNG cargo to be delivered in 2015.”
The HoA was signed in Beijing, China, by Mr Mulva together with Origin Chairman Kevin McCann and Sinopec President Su Shulin.
