Australian integrated energy company Origin Energy Limited (Origin) (ASX:ORG) announced on Thursday that Australia Pacific LNG Pty Ltd has signed agreements with the Export-Import Bank of the United States (US EXIM), the Export-Import Bank of China (China EXIM) and a syndicate of domestic and international commercial banks, for an USD8.5bn project finance facility.
Australia Pacific LNG Pty Ltd is an incorporated joint venture between Origin, ConocoPhillips and Sinopec, which includes the development of Australia Pacific LNG's substantial coal seam gas resources in the Surat and Bowen Basins, a transmission pipeline and a multi-train LNG facility on Curtis Island, near Gladstone.
The company said that the project finance facility provides funding for the downstream parts of the project, including the liquefaction facilities on Curtis Island in Queensland and will underpin the development of Australia Pacific LNG's CSG to LNG project.
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