ConocoPhillips, Origin Expand $20B Australian Gas Project

Law360, New York (July 5, 2012, 1:25 PM EDT) -- ConocoPhillips Co. and Origin Energy Ltd. approved the expansion of their $20 billion coal-to-natural-gas joint venture in Australia, adding a second liquefied natural gas unit expected to double production of the Australia Pacific LNG project to 9 million tons per year, the companies announced Tuesday.

With the Australia Pacific LNG board giving the go-ahead for the second unit, state-run China Petrochemical Corp.'s agreement to increase its equity interest in the project from 15 to 25 percent "is now unconditional with completion due to occur shortly," according...
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