PERTH (miningweekly.com) – The remaining $3.4-billion shareholder guarantees over the Australia Pacific liquefied natural gas (APLGN) project’s $8.5-billion project finance have been released after the project met all of the lender’s completion tests, ASX-listed Origin Energy reported.
In 2012, APLNG secured the project finance facility with US EXIM, China EXIM and a consortium of Australian and international banks to fund the downstream component of the project, including the construction of the Curtis Island LNG facility.
The $24.7-billion APLNG project shipped its first LNG cargo in January this year, with some 8.6-million tonnes a year of LNG production from APLNG committed under long-term take-or-pay contracts with Sinopec in China, and Kansai in Japan.
The project comprises two processing trains, each with a 4.5-million-tonne-a-year nameplate production capacity.