2012 Half Year Results Media Presentation - Origin Energy
2012 Half Year Results Media Presentation - Origin Energy
2012 Half Year Results Media Presentation - Origin Energy
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Australia Pacific LNG<br />
‣ Underlying EBITDA down 50% to $16 million<br />
‣ FID on LNG Train 1 and infrastructure to support Train 2 taken in July 2011<br />
‣ <strong>Origin</strong> equity share in APLNG JV reduced from 50% to 42.5%<br />
‣ Binding agreements signed with Kansai and Sinopec for Train 2 LNG sales<br />
‣ Sinopec to take additional 10% interest in APLNG 1 ; <strong>Origin</strong>‟s share will reduce to 37.5%<br />
‣ Project remains on track with FID 2 expected by mid <strong>2012</strong><br />
($m)<br />
40<br />
Underlying<br />
EBITDA<br />
Total Assets<br />
less Segment<br />
Liabilities<br />
($b)<br />
8<br />
30<br />
32<br />
32<br />
32<br />
5.7 6<br />
5.2<br />
5.7<br />
20<br />
4<br />
16<br />
16<br />
16<br />
10<br />
2<br />
0<br />
0<br />
Dec 10 Dec 11 Dec 10 Dec 11<br />
Lower sales revenue<br />
Higher operating costs<br />
Dilution of <strong>Origin</strong>‟s interest from 50% to 42.5%<br />
32 | (1) Binding and conditional on Australian and Chinese Government approvals and a Final Investment Decision on Train 2
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