Origin, Conoco to sell coal seam gas to BG  

Posted by Big Gav in , , , ,

Reuters reports that Origin and Conoco will be selling some coal seam gas to rival BG's planned Gladstone LNG plant - which makes me wonder when their own plant will go ahead - Origin, Conoco in Australia gas jv with BG Group.

Australia's Origin Energy and partner ConocoPhillips will sell feed gas to BG Group's rival liquefied natural gas project, marking the first collaboration in the country's LNG sector.

The partnership could herald more cooperation among the five rival projects at Gladstone port in the northern state of Queensland, analysts said, as operators seek ways to lower their costs in multi-billion dollar LNG projects.

While the gas sales agreement is set to add value for Origin, some analysts have raised concerns about possible delays in its own LNG project, known as Australia Pacific LNG (APLNG), with the firm giving little update on its progress on LNG sales negotiations.

"We are still in discussions with potential LNG customers... but we are now in a buyers' market and they now have substantial choices between competing LNG developments," Managing Director Grant King told analysts at a results briefing.

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