Australia Pacific LNG Cuts Price in Massive Sinopec Supply Deal
Australia Pacific LNG agreed to cut the price of liquefied natural gas sold under a major contract with China's Sinopec.
The price review resulted in a reduction in the oil-linked contract slope from Jan. 1, 2025, Origin Energy Ltd. — which holds a 27.5% stake in the export project, said Friday. The Sydney-based company sees a reduction in its underlying earnings from the Australia Pacific LNG plant of A$55 million ($35 million) in the six months through June 2025.
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