Origin Energy Limited (Origin) today noted the Australian Government’s announcement that it will introduce an Australian Domestic Gas Security Mechanism.
Australia Pacific LNG, in which Origin owns a 37.5 per cent interest, today re-affirmed it is a net contributor to the domestic gas market, and will continue to support domestic customers for many years to come. Australia Pacific LNG has been a net contributor to the domestic market since its inception in 2008 and currently provides around 20 per cent of east coast gas supply.
Australia Pacific LNG’s current contracts with east coast industrial companies and energy retailers will supply more than 100 PJs per year until 2020, more than 80 PJs until 2030 and the joint venture is continuing to engage with customers regarding domestic supply.
In the past six months, Australia Pacific LNG completed more than 100 domestic gas transactions, many with Queensland manufacturers, delivering more than 20 PJs in incremental domestic sales.
Australia Pacific LNG expects that its CSG operations will continue to provide opportunities to supply incremental sales to the domestic market and will continue to assess opportunities to provide additional domestic gas in 2018 and beyond.
Origin is also a major supplier of gas to customers on the east coast.
Origin and Australia Pacific LNG will actively participate in the Government’s planned consultation with industry to finalise details of this regulation.
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About Origin Energy
Origin Energy (ASX: ORG) is the leading Australian integrated energy company with market leading positions in energy retailing (approximately 4.2 million customer accounts), power generation (approximately 6,000 MW of capacity owned and contracted) and natural gas production (1,093 PJ of 2P reserves and annual production of 82 PJe). Through Australia Pacific LNG, its incorporated joint venture with ConocoPhillips and Sinopec, Origin is developing Australia’s biggest CSG to LNG project based on the country’s largest 2P CSG reserves base.