Australia Pacific LNG project finance tests complete

Australia Pacific LNG project finance tests complete

Australia Pacific LNG said the final test relating to project financing completion agreements for the two liquefaction train at its export plant on Curtis Island have been satisfied. 

Australia Pacific LNG executed a $8.5 billion project finance facility in May 2012, comprising loans from US EXIM, China EXIM and a consortium of Australian and international banks. This financing provided funding for the LNG facility component of the Australia Pacific LNG project.

With the final test for the two liquefaction trains satisfied, the APLNG shareholders ConocoPhillips, Origin and Sinopec are released from their obligations under the completion guarantees relating to the $8.5 billion project finance facility.

CEO Warwick King said the final two-train lenders test included an operational component which the LNG Facility passed comfortably, operating at ten per cent above nameplate capacity for a 90-day period.

Australia Pacific LNG has been operating both trains since October 2016 and in the seven months to 31 July had loaded 72 cargos to international customers, predominantly under long term sale and purchase agreements with Sinopec and Kansai Electric.

Share this article

Follow LNG World News

Events>

<< Apr 2019 >>
MTWTFSS
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 1 2 3 4 5

Downstream 2019

Renowned as the most significant global meeting place for Downstream professionals…

read more >

Central and Eastern Europe SSLNG Forum

SSLNG projects are important for Central and Eastern Europe (CEE) because they offer opportunities for solving issues…

read more >

Klaipeda LNG Forum 2019

Klaipėda LNG forum 2019 organised by Klaipėda Science and Technology Park, Klaipėdos nafta and Embassy of the Netherlands will take place on the 15-16 May at Klaipėda Castle’s site hall, Lithuania.

read more >

Flame 2019

Flame is Europe’s largest gathering of midstream gas & LNG players, bringing together everyone who matters – from producers to utilities, purchasers, infrastructure providers, traders, regulators and policy makers.

 

More info

read more >