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Origin sells Ironbank gas project to APLNG

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LNG Industry,

According to Reuters, Origin Energy has reached an agreement to sell its Ironbank gas project to Australia Pacific LNG (APLNG).

The project is located in Queensland, Australia, and will be sold for AUS$231 million. Reuters reports that Origin holds approximately 37.5% of APLNG, and that it will continue to be responsible for the project’s development, due to its role as an upstream operator for APLNG.

The other stakeholders in APLNG are ConocoPhillips and Sinopec. According to Reuters, Origin is expected to book a non-cash post-tax impairment of AUS$34 million from the sale in its next half-year results.

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