APLNG completes 90-day operational phase lenders’ test

APLNG completes 90-day operational phase lenders' test
Image courtesy of Origin

ConocoPhillips-operated Australia Pacific LNG concluded the 90-day operational phase of the two train project finance lenders’ test.

“All other elements of the project finance completion tests are on track and Australia Pacific LNG expects that formal certification that they have been satisfied will be provided during the first quarter of FY2018,” Origin Energy that holds a 37.5 percent stake in the project said on Friday.

When the formal certifications are received the remaining US$3.4 billion of shareholder guarantees relating to Australia Pacific LNG’s $8.5 billion project finance facility will be formally released.

Origin added that, during the 90-day period, Australia Pacific LNG achieved high operational performance across all key metrics associated with the test. The facility produced on average more than 10 per cent above nameplate capacity with high thermal efficiency and minimal downtime.

The $17 billion LNG project has a full production capacity of 9 million tons per year of the chilled fuel.

Shareholders in the Australia Pacific LNG project are ConocoPhillips (37.5%), Origin (37.5%) and Sinopec (25%).

Share this article

Follow LNG World News

Events>

<< Dec 2019 >>
MTWTFSS
25 26 27 28 29 30 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 31 1 2 3 4 5

The 6th CWC China LNG & Gas International Exhibition & Summit

Following on from LNG 2019 and five successful editions in Beijing, the established China LNG & Gas International Exhibition & Summit…

read more >

LNG Pricing, Trading & Hedging: 3-Day Training Course – Singapore / Jan 2019

This three-day training program provides a unique opportunity to learn and apply the practical skills, knowledge and tools needed to:…

read more >

American LNG Forum 2020

The American LNG Forum is your gateway to learning about the US LNG export industry,

read more >

2nd Global LNG Forum

Global LNG Forum is an exclusive networking and knowledge-sharing platform for top experts and business leaders in the industry.

read more >