20 December 2017
Origin buys 15 PJs of gas to support domestic market
Origin has signed an agreement to buy 15 petajoules of gas from GLNG to help meet the needs of the domestic market.
The agreement is for a period of seven months starting in April 2018 until the start of November 2018, covering the winter period when gas is typically in high demand for heating.
The gas will add to Origin’s domestic portfolio, which is one of the major suppliers to Australian households, large gas users and peaking power plants.
Origin Executive General Manager Energy Supply and Operations, Greg Jarvis said, “Origin continues to respond to concerns about domestic gas supply and has now secured more than 55 additional petajoules of gas for 2018 through this agreement with GLNG and a recent agreement with Australia Pacific LNG.
“The east coast LNG producers are delivering on their commitment to make more gas available to the domestic market and Origin is playing its part in helping get that gas to the customers and power stations that need it.
“We are already seeing the positive impact of the increased gas supply into the domestic market, with prices coming down rapidly from their peak earlier in 2017.
“Continuing to make sure sufficient gas supply is available to the domestic market is the critical action that will maintain downward pressure on prices for customers,” Mr Jarvis said.
As a major supplier of gas on the east coast, Origin signed more than 760 agreements with large customers in FY2017. Earlier this year, Origin also commenced supplying gas to South Australia’s Pelican Point power station to bring another 240 MW of generation capacity back into service.
“We will continue to look for opportunities to make sure large customers have access to the secure and affordable gas supply they rely on for their businesses,” Mr Jarvis said.
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Redemption of Capital Securities
Origin Energy Limited (Origin) today announced that it redeemed, in whole, the €500 million Capital Securities due 2071 issued by Origin Energy Finance Limited and listed on the London Stock Exchange at their first call date (16 June 2018) in accordance with the terms of those securities.