• Natural Gas News

    Senex completes acquisition of APLNG gas fields

Summary

The deal was announced in November last year.

by: Shardul Sharma

Posted in:

Complimentary, NGW News Alert, Natural Gas & LNG News, Asia/Oceania, Security of Supply, Corporate, Exploration & Production, Investments, CBM, News By Country, Australia

Senex completes acquisition of APLNG gas fields

Sydney-listed Senex Energy has completed the A$80mn ($57.7mn) acquisition of undeveloped Australia Pacific LNG (APLNG) gas fields PL 209 and PL 445 in Queensland, it said on January 17. The deal was announced in November last year.

The completion of the acquisition of PL 209 and PL 445 is one of the conditions precedent to the proposed acquisition of Senex by South Korea’s Posco International announced in December. With the acquisition now having completed, that condition has been satisfied, Senex said.

APLNG, a joint venture comprising Origin, ConocoPhillips and China's Sinopec, is Australia’s largest producer of coalbed methane (CBM) and supplies gas to Queensland’s domestic gas market, while also processing CBM into LNG for exports. Origin recently signed an agreement with global energy investor EIG to sell a 10% stake in the project