MARKETS

Conoco swoops in to claim Origin's 10% APLNG stake from EIG

CONOCOPHILLIPS has advised Origin Energy it has exercised its pre-emption rights in relation to Origin selling 10% of its stake in the APLNG facility to EIG for A$2.1 billion.

The APLNG facility in Gladstone, Queensland

The APLNG facility in Gladstone, Queensland

Origin announced in October it would sell 10% of its 37.5% stake in the LNG facility to EIG, however the deal was always subject to pre-emption rights by Conoco and Sinopec, which has 37.5% and 25% interests...

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