Name of the Project
Australia Pacific liquefied natural gas (APLNG) project.

Location
Australia.

Client
APLNG, a 50:50 joint venture between Origin Energy and ConocoPhillips. Sinopec has agreed to subscribe to a 15% equity interest in APLNG.

On completion of the transaction, the ownership interest of Origin and ConocoPhillips will be reduced to 42.5%.

Project Description
The project will consist of the further development of APLNG’s gasfields in the Surat and Bowen basins, in south-western and central Queensland respectively; a gas pipeline from the gasfields to a liquefied natural gas (LNG) facility, in Gladstone, Queensland; and an LNG facility on Curtis Island, in Gladstone, the first two trains of which will have a processing capacity of up to nine-million tonnes a year.

About 8.6-million tonnes a year of LNG production from APLNG had been committed under long-term take-or-pay contracts with Sinopec, in China, and Kansai, in Japan.

Jobs to be Created
Not stated.

Value
The cost of the project is estimated at $24.7-billion.

Duration
The start of shipments from APLNG started in January 2016.

Latest Developments
Origin completed the 90-day operational phase of the two-train project finance lenders' test at the APLNG in July.

During the 90-day period, APLNG achieved high operational performance across all key metrics associated with the test. The facility produced on average more than 10% above nameplate capacity, with high thermal efficiencies and minimal downtime.

All other elements of the project finance completion tests are on track, and formal certification that the finance lenders requirements are satisfied will be provided during the first quarter of 2018.

Once the formal certifications have been received, the remaining $3.4-billion of shareholder guarantees relating to APLNG’s $8.5-billion project finance facility would be formally released.

Key Contracts and Suppliers
None stated.

On Budget and on Time?
A review of the APLNG project has increased the estimated price from $23-billion to $24.7-billion.

Contact Details for Project Information
APLNG external affairs manager Fiona McLeod, tel +61 7 3021 3325.