Australia Pacific LNG and Sinopec sign non-binding Heads of Agreement for further LNG supply and additional equity

abarrelfull wrote on 12 Dec 2011 09:02
Tags: australia conoco lng origin sinopec

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Origin Energy Limited ("Origin") advises that its Australia Pacific LNG joint venture with ConocoPhillips and Sinopec has provided the attached update on its signing of non-binding agreements with Sinopec for LNG supply and a 10% equity interest.

The key commercial terms associated with the non-binding Heads of Agreement announced today are consistent with the terms of existing LNG sales from the project and the Subscription Agreement signed with Sinopec in April 2011.

This agreement will reduce Origin Energy's and ConocoPhillips' ownership interest to 37.5% respectively.

• Australia Pacific LNG and Sinopec sign non-binding Heads of Agreement for further LNG supply and additional equity taking Sinopec to 25% ownership in Australia Pacific LNG

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