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1 To Company Announcements Office Facsimile Company ASX Limited Date 21 April 2011 From Helen Hardy Pages 10 Subject AUSTRALIA PACIFIC LNG AND SINOPEC SIGN BINDING AGREEMENTS FOR LNG SUPPLY AND 15% EQUITY INTEREST Origin Energy Limited ( Origin ) advises that its Australia Pacific LNG joint venture with ConocoPhillips has provided the attached update on its signing of binding agreements with Sinopec for LNG supply and a 15% equity interest. Australia Pacific LNG and China Petrochemical Corporation ( Sinopec Group ) signed a Subscription Agreement for Sinopec to subscribe for a 15% interest in Australia Pacific LNG on completion for a net consideration of US$1.5 billion, reflecting the scale and quality of the Australia Pacific LNG resource base. This agreement reduces ConocoPhillips and Origin Energy s ownership interest to 42.5% respectively. Further details are contained in the attached release. Regards Helen Hardy Company Secretary helen.hardy@originenergy.com.au Origin Energy Limited ACN Lvl 45 Australia Square, George Street, Sydney NSW 2000 GPO Box 5376, Sydney NSW 2001 Telephone (02) Facsimile (02)

2 Media Release 21 April 2011 Australia Pacific LNG and Sinopec sign binding agreements for LNG supply and 15% equity interest Australia Pacific LNG Pty Ltd ( Australia Pacific LNG ) and China Petroleum & Chemical Corporation ( Sinopec ) today signed a Sale and Purchase Agreement for the supply of 4.3 million tonnes per annum of LNG for 20 years 1 from Australia Pacific LNG s world-class coal seam gas resources and proposed LNG facility on Curtis Island, Gladstone in Queensland. Australia Pacific LNG and Sinopec International Petroleum Exploration & Production Corporation ( SIPC, a subsidiary 100% owned by Sinopec Group) also signed a Subscription Agreement for SIPC to subscribe for a 15% interest in Australia Pacific LNG thereby reducing ConocoPhillips and Origin Energy s ownership interest to 42.5% respectively. These agreements reflect the commercial terms outlined in the Heads of Agreement signed between Australia Pacific LNG and Sinopec on 25 February The agreements are subject to approvals by the Chinese Government and in Australia, the Foreign Investment Review Board and are conditional on Australia Pacific LNG reaching a final investment decision. Origin Energy Managing Director, Mr Grant King said, Today marks an important milestone in the development of the Australia Pacific LNG project and represents the largest LNG supply agreement in Australian history by annual volume. These agreements are testament to the strength of the Australia Pacific LNG project, which is based on Australia s largest coal seam gas reserves and resources together with ConocoPhillips proven Cascade LNG technology that is well-suited to a CSG application, Mr King said. ConocoPhillips Senior Vice President Exploration and Production, Mr Ryan Lance said, We welcome Sinopec as an equity partner of Australia Pacific LNG and as a foundation buyer of LNG. It is through the large amount of ground work and cooperation by all parties that we have been able to move from a Heads of Agreement to binding agreements in such a short period of time. We reaffirm our target of first LNG cargo to be delivered to Sinopec in "Australia Pacific LNG continues to be in discussions with other customers that have the potential to secure off-take agreements, Mr Lance said. Mr Zhang Yaocang, Vice President of Sinopec Group and Vice Chairman of Sinopec Corporation, indicated that he was pleased to have signed these agreements with Mr Grant King and Mr Ryan Lance, thereby signalling intentions for long-term cooperation between Sinopec, ConocoPhillips and Origin Energy. 1 In calendar year 2015, we expect cargoes will be delivered at a pro rata rate of 2.5 million tonnes per annum. 1

3 This will help Sinopec diversify its natural gas supply and meet the rapidly increasing demand of customers in China. Sinopec continues looking for more cooperation opportunities in Australia, Mr Zhang said. The LNG volumes from Australia Pacific LNG will underpin Sinopec s yet to be constructed Guangxi Receiving Terminal and could also be directed to other LNG import and gasification terminals within China. The LNG export agreement builds on Australia Pacific LNG s existing domestic business, which currently provides 40 percent of Queensland s natural gas requirements. The Project stands to create thousands of jobs in regional Queensland and deliver significant opportunities for many local communities in which we operate as well as broader economic benefits, Mr King said. The agreements were signed today in Brisbane by Zhang Yaocang, Vice President of Sinopec, Grant King, Managing Director of Origin Energy and Ryan Lance, Senior Vice President Exploration and Production of ConocoPhillips. The signing was witnessed by the Minister for Resources, Energy and Tourism, The Hon Martin Ferguson, Queensland Minister for Finance, The Hon Rachel Nolan MP, the Deputy Director General, Oil and Gas China Department, China National Energy Administration, Mr Hu Weiping and Chinese Consul General, Dr Sun Dali. Ends For further information contact: Media Investors Lina Melero Angus Guthrie /Kylie Springall Ph: Ph: Mobile: Mobile: John McLemore Clayton Reasor ConocoPhillips ConocoPhillips John.l.mclemore@ conocophillips.com c.c.reasor@ conocophillips.com About Australia Pacific LNG Australia Pacific LNG Pty Limited, as of today, is a joint venture between Origin Energy Limited and ConocoPhillips. The Australia Pacific LNG project includes the development of Australia Pacific LNG s substantial coal seam gas resources in the Surat and Bowen Basins over a 30-year period, a 450 km transmission pipeline, and a multi-train LNG facility on Curtis Island, near Gladstone. Website: aplng.com.au About ConocoPhillips ConocoPhillips is an integrated energy company with interests around the world. Headquartered in Houston, Texas, the company had approximately 29,700 employees, $156 billion of assets, and $189 billion of revenues as of December 31, For more information, go to conocophillips.com. 2

4 About Origin Energy Origin Energy is Australasia's leading integrated energy company focused on gas and oil exploration and production, power generation and energy retailing. Listed in the ASX top 20 the company has approximately 4,400 employees, is a leading producer of gas in eastern Australia, is the largest owner and developer of gas-fired electricity generation in Australia and is a leading wholesaler and retailer of energy. For more information go to originenergy.com.au About Sinopec China Petrochemical Corporation (Sinopec Group) is an energy and chemical company with an integrated business value chain. The company s major business activities include: exploration, production, storage, transportation and trade of oil & natural gas, oil refining, production, transportation, trade, distribution and sales of refined products as well as production, distribution and trade of petrochemical products. China Petroleum & Chemical Corporation, majority-owned by Sinopec Group, issued H-shares and A-shares respectively in October 2000 and August 2001, and has been listed in Hong Kong, New York, London and Shanghai stock market. Sinopec Group is China s second largest crude oil and natural gas producer, China s largest petroleum products and chemicals producer and supplier. Sinopec Group is the world s second largest oil firm by refining capacity, ranked fourth by ethylene production capacity and second by service stations. Sinopec Group ranked 7th in the Fortune Global 500 published in Website: sinopecgroup.com 3

5 Spring Gully gas facility Australia Pacific LNG Australia Pacific LNG is the leading producer of coal seam gas (CSG) in Australia and holds the country s largest CSG reserves position. Australia Pacific LNG is proposing to develop a multi-billion dollar, world-class CSG to LNG export project in Queensland. Origin and ConocoPhillips are 50:50 joint venture partners in Australia Pacific LNG. Sinopec has agreed to subscribe for a 15% equity interest in Australia Pacific LNG. On completion of the transaction, Origin and ConocoPhillips ownership interest will be reduced to 42.5% respectively. The Australia Pacific LNG Project The Australia Pacific LNG project consists of: 1. The further development of Australia Pacific LNG s gas fields in the Surat and Bowen basins in south western and central Queensland 2. A gas pipeline from the gas fields to an LNG facility in Gladstone in Queensland 3. An LNG facility on Curtis Island in Gladstone, the first two trains of which will have a processing capacity of up to 9 million tonnes per annum. From the LNG facility, Australia Pacific LNG s cargoes will be shipped to the energy markets of Asia. Australia Pacific LNG s first cargo is expected to be exported in Operating more sustainably Australia Pacific LNG is committed to exploring innovative and more sustainable solutions to reduce the impact of its CSG to LNG operations on the environment and community, for example: First in CSG to LNG industry to use reverse osmosis plants Use of energy efficient compressors Lower impact seismic surveys Use of hybrid drill rigs Selection of ground flares for use at the LNG facility April 2011

6 Laird Point (Curtis Island). Picture shows 2 train project. Example illustration only. Providing a cleaner source of energy Australia Pacific LNG will play an important role in delivering cleaner sources of energy to Asia. When used for electricity production, natural gas emits significantly lower carbon emissions when compared to coalfired generation. Making a contribution The Australia Pacific LNG Project will generate significant benefits at regional, state and national levels. The Project will create approximately 6,000 direct jobs during the peak construction phase which includes the gas fields, gas pipeline and LNG facility. It will also create 1,000 jobs during the operation of the Project. With significant employment needs, Australia Pacific LNG will be working to increase local skills capacity via apprenticeships, scholarships and vocational training. The Project also expects to make a considerable contribution to regional economies through the purchase and use of local goods and services, where practicable, for the construction and operation of the plant. Commitment to local communities Australia Pacific LNG values a constructive relationship with local communities, landowners and all levels of government. Australia Pacific LNG will pursue the highest environmental, community consultation and regional development standards not only during the construction period but also throughout the ongoing operational life of this project. APLNG is a CSG to LNG Joint Venture between Origin, ConocoPhillips and Sinopec. Subject to approval by the Chinese Government and Australian Foreign Investment Review Board and conditional on Australia Pacific LNG reaching a final investment decision. Timing Project milestones (Calendar Years) 3 Initial Advice Statement (IAS) submitted Q Project declared as Significant by the Queensland Government The Joint Venture Australia Pacific LNG is a joint venture consisting of: Origin: ConocoPhillips: Sinopec: 42.5% interest* 42.5% interest* 15% interest* Q Curtis Island Site selected Q Commenced FEED work Q P reserves increased to over 11,000 PJ Q Federal and State approvals Q4 2010/ Q Issued major upstream and downstream contracts ongoing 3 Non-binding HOA signed with Sinopec Q Binding agreements signed with Sinopec Q Target Final Investment Decision ( FID ) 2011 Target first LNG Production 2015 * Subject to approval by the Chinese Government and Australian Foreign Investment Review Board and conditional on Australia Pacific LNG reaching a final investment decision. Origin is responsible for construction and operation of the gas fields and pipeline. ConocoPhillips is responsible for construction and operation of the LNG facility. ww w. aplng.com.au For more information about Australia Pacific LNG please contact us on or contact@apl ng.com.au

7 Spring Gully gas facility Origin: The leading AustraliaN integrated energy company Origin is Australasia s leading integrated energy company, focused on gas and oil exploration and production, power generation and energy retailing. Fast Facts ASX TOP 20 by market capitalisation Origin is Australia s largest energy retailer servicing 4.6 million electricity, natural gas and LPG customer accounts and has one of the country s largest and most flexible generation portfolios with more than 5,800 MW of capacity, through either owned or contracted generation. Origin s strategic positioning and portfolio of assets provide flexibility, stability and significant opportunities for growth across the energy industry in Australia. Through Australia Pacific LNG, Origin s 50:50 incorporated joint venture with ConocoPhillips, Origin is developing one of Australia s largest CSG to LNG projects based on Australia s largest CSG reserves base. Origin has a strong focus on ensuring the sustainability of its operations and has significant investments in renewable energy technologies including wind, solar, geothermal and hydro. Origin is headquartered in Sydney, NSW and employs 4,400 people. 150,000+ shareholders 51.9% interest in Contact Energy 4.6 million customers across Australia Market leading 5,800MW 3,400MW green energy provider owned or contracted generation capacity total potential wind development portfolio

8 Our Business Exploration and Production Retail Targets gas resources close to markets so Origin can quickly develop and monetise any discovery Australia s largest energy retailer with 4.6 million customers For personal use only Largest holder of gas reserves in eastern Australia via Australia Pacific LNG joint venture, and a leading producer of gas in Eastern Australia Australia Pacific LNG A joint venture with ConocoPhillips which is proposing to develop one of Australia s largest CSG to LNG export projects in Queensland, based on Australia s largest CSG reserves Currently supplies more than 40 per cent of domestic gas requirements to customers in Queensland Generation Australia s largest and most flexible generation portfolio Largest owner and developer of gas fired electricity generation in Australia Significant development pipeline of renewable energy opportunities across wind, solar, geothermal and hydro Australia s clear market leader in green energy sales Provider of electricity, natural gas and LPG products Contact Energy Origin has a 51.9% interest in New Zealand s leading integrated energy company Extensive portfolio of gas supply arrangements, gas storage under development, a diverse generation portfolio Strong retail position with approximately 600,000 customers Working alongside communities Origin has a long history of working alongside communities in rural and regional Australia for many years. Origin values a constructive relationship with local communities, landowners and all levels of government. FOR MORE INFORMATION go to Our locations April Indicates the location of Origin s assets

9 About ConocoPhillips ConocoPhillips is an integrated energy company with interests around the world. Headquartered in Houston, the company had approximately 29,700 employees, $156 billion of assets, and $189 billion of revenues as of December 31, Worldwide, ConocoPhillips is the fifth-largest refiner and the sixthlargest reserves holder of non-government-controlled companies. The company is listed on the New York Stock Exchange under the symbol COP. ConocoPhillips Australia ConocoPhillips Australia is a subsidiary of ConocoPhillips, with significant assets and exploration activities across the Australian region. The company currently employs over 500 employees in Australia. PROJECT SNAPSHOTS Darwin LNG ConocoPhillips is the operator and major equity holder in the 3.7mtpa Darwin LNG Plant, which commenced production in Joint venturers include ENI, Santos, INPEX,Tokyo Electric Power Company and Tokyo Gas. Bayu-Undan The Bayu-Undan Field holds approximately 3.5 trillion cubic feet of gas and 500 million barrels of condensate and LPG. The field was discovered in 1995 and is located approximately 500km north-west of Darwin, Northern Territory. Bayu-Undan is managed in the same joint venture structure as Darwin LNG. Australia Pacific LNG ConocoPhillips established a joint venture with Australian company Origin Energy in October 2008, called Australia Pacific LNG, a coal seam gas-to-liquefied natural gas joint venture in Queensland. The Project includes the extraction of coal seam gas in the Bowen and Surat Basins, a 450km pipeline and an LNG Facility on Curtis Island, Gladstone. Sunrise Greater Sunrise is located in the Timor Sea, 450km north-west of Darwin, Northern Territory. ConocoPhillips holds a 30% working interest in the Greater Sunrise area. ConocoPhillips and its coventurers are progressing development concepts. Browse Basin ConocoPhillips is operator and holds 60% interest in Exploration Permits WA-315-P and WA-398-P and 10% interest in WA-314-P. The Permits are located in the Browse Basin, offshore Western Australia, approximately 480km north of Broome. Australian company Karoon Gas holds the remaining interests in the Permits. Hydrocarbons have been encountered at the Poseidon-1, Poseidon-2 and Kronos-1 wells. Further drilling is planned. Caldita and Barossa ConocoPhillips is operator and holds exploration interests in the Timor Sea approximately 270km northnorthwest of Darwin with joint venturer, Santos. The Caldita-1 discovery well was drilled and tested in NT/P61 in 2005, followed by the Caldita-2 appraisal well in early Reprocessing of data over the Caldita structure is scheduled during Athena ConocoPhillips holds 50% equity in WA-17-L, approximately 130km north-west of Dampier, which contains part of the North West Shelf Venture s Perseus gas field. This field straddles the boundary with an adjoining license area, and has produced gas since Mobil Australia holds the remaining 50% equity.

10 About Sinopec China Petrochemical Corporation (Sinopec Group) is an energy and chemical company with an integrated business value chain. The company s major business activities include: exploration, production, storage, transportation and trade of oil & natural gas, oil refining, production, transportation, trade, distribution and sales of refined products as well as production, distribution and trade of petrochemical products. China Petroleum & Chemical Corporation, majority-owned by Sinopec Group, issued H-shares and A-shares respectively in October 2000 and August 2001, and has been listed in Hong Kong, New York, London and Shanghai stock market. Sinopec Group is China s second largest crude oil and natural gas producer, China s largest petroleum products and chemicals producer and supplier. Sinopec Group is the world s second largest oil firm by refining capacity, ranked fourth by ethylene production capacity and second by service stations. Sinopec Group ranked 7th in the Fortune Global 500 published in Website: sinopecgroup.com 中国石油化工集团公司简介中国石油化工集团公司是一体化的能源化工公司, 公司主营业务包括石油和天然气的勘探 开发 储存和运输, 炼油 成品油的生产 运输 贸易和销售, 以及石化产品的生产 销售和贸易 2000 年 10 月和 2001 年 8 月, 中国石油化工集团公司控股的中国石油化工股份公司, 先后在境外 境内发行 H 股和 A 股, 在纽约 香港 伦敦和上海上市, 实现股权结构多元化 经过多年发展, 中国石油化工集团公司已经成为国内最大的成品油和石化产品生产商和供应商 第二大油气生产商, 全球第二大炼油公司 第四大乙烯生产商, 加油站总数位居世界第二位, 在 2010 年度 财富 杂志全球 500 强企业中排名第 7 位 官方网站 :sinopecgroup.com 1