Origin unfazed by low oil prices

Origin unfazed by low oil prices

Sydney-based Origin Energy, the holder of a 37.5 percent stake in the Australia Pacific LNG project, said it remains confident in its robust financing arrangements during the low oil prices period. 

In a statement, issued to the Australian stock exchange on Monday, Origin’s managing director, Grant King clarified the companies financing arrangements, noting the company can withstand a prolonged period of low oil prices.

Origin confirmed it has in excess of A$6.5 billion of committed undrawn debt facilities and cash which it considers sufficient to support its remaining contributions to the APLNG project that has recently shipped its first cargo of liquefied natural gas. Currently, Origin has A$500 million of drawn bank debt.

The company noted it has no material refinancing requirements until the financial year 2019, and that earnings from existing businesses have minimal exposure to oil price.

The stock exchange filing reveals that Origin expects the remaining contributions to Australia Pacific LNG to be within the prior guidance of A$1.8 billion.

LNG World News Staff

Share this article

Follow LNG World News


<< Oct 2019 >>
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

CWC World LNG Summit & Awards Evening

The CWC World LNG Summit & Awards Evening will be returning to Rome in 2019 to celebrate it’s 20th year.

read more >

LNG Bunkering Mediterrean

The only 3-day course offering theoretical and practical training on LNG bunkering designed by the Mediterranean market leaders.   

read more >

6th Mozambique Gas Summit & Exhibit

This year’s edition will have a revamped programme for attendees.

read more >

FLNG World Congress 2019

2019 FLNG World Congress will bring together stakeholders across the floating liquefaction value…

read more >