Origin To Keep 100% Of Gas Purchase After JV Waives Option
May 12 2009 - 9:34PM
Dow Jones News
Origin Energy Ltd. (ORG.AU) said Wednesday its gas export joint
venture with ConocoPhillips (COP) has waived its option to acquire
a 50% interest in some coal seam gas assets recently bought by
Origin.
Origin agreed to pay A$660 million to entrepreneur Paul Fudge
for exploration permit ATP 788P in Queensland state in April.
The joint venture's decision to wave the option indicates it is
confident it already has enough gas to feed its proposed liquefied
natural gas project at Gladstone.
Origin said it will use the asset to supply its domestic gas
portfolio.
By Ross Kelly, Dow Jones Newswires; 61-2-8235-2957;
ross.kelly@dowjones.com