Conoco Australian Gas Project ‘Catches Up’ With Rivals
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ConocoPhillips, Origin Energy Ltd.’s partner in an Australian liquefied natural gas venture, said it aims to make a decision to proceed with the development at about the same time as rival projects in Queensland state.
The third-biggest U.S. oil company expects the Australian government to approve its A$35 billion ($34 billion) project in the next month, allowing for a final investment decision, Chief Executive Officer Jim Mulva told analysts yesterday. Santos Ltd., the Australian oil and gas producer, plans to commit to the first phase of its Gladstone LNG venture by the end of 2010. BG Group Plc intends to “conclude discussions” about a decision on its project in 2010, it said this week.