Australian LNG Project Nails Down $8.5B In Financing

Law360, New York (May 24, 2012, 3:21 PM EDT) -- Origin Energy Ltd., ConocoPhillips Co. and China Petrochemical Corp., known as Sinopec, have landed $8.5 billion in financing for their landmark joint venture, a sprawling coal-to-natural-gas operation aiming to profit from Australia's vast resource-rich coal deposits, the group said Thursday.

The cash infusion will allow the developers to fund ongoing portions of the Australia Pacific LNG project, including the construction of two gas-liquefaction facilities that when completed will churn out roughly 10 million tons of liquefied natural gas each year to be shipped from Queensland to...
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