- Australia Pacific LNG, the joint venture between ConocoPhillips (NYSE:COP), Sinopec (NYSE:SNP) and local player Origin Energy (OTCPK:OGFGF), expects to begin loading tankers late in Q3 for sale to market participants as it seeks to place its first six months of production into already oversupplied spot markets.
- Within that commissioning phase of the project, exports are estimated at two to three cargoes per month, with seven to 10 cargoes planned by the end of the year.
- Attempting to get ahead of the coming surge from the start-up of Chevron's 15.6M metric tons/year Gorgon LNG plant in Australia in mid-2015 followed by Santos' 7.8M tons/year Gladstone facility, Australia Pacific LNG is said to be gauging interest from various buyers, particularly from India and China.