$23b APLNG project gets final go ahead
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SYDNEY, July 4 AAP
July 04 2012, 10:23AM
The owners of the Australia Pacific liquefied natural gas (APLNG) project in Queensland have made a final commitment to the $23 billion project.
Origin Energy on Wednesday said it and and its joint venture partners ConocoPhillips and China Petrochemical Corp (Sinopec) had approved a final investment decision on the second of two development stages of the project.
APLNG consists of coal seam gas (CSG) fields in Queensland's Surat and Bowen basins, and a pipeline to an LNG plant on Curtis Island off the coast of Gladstone.
First production of gas is expected in 2015.
"As one of Australia's largest LNG export projects, the Australia Pacific LNG project stands to deliver significant value to Origin shareholders and to Australia, as well as jobs for the Australian community," Origin managing director Grant King said in a statement.