ConocoPhillips, Origin Energy Limited Finalize LNG Sales Deal With Kansai-DJ

Dow Jones reported that a USD20 billion Australian gas-export joint venture (JV) involving ConocoPhillips and Origin Energy Limited had finalized a gas sales deal with Kansai Electric Power Co. The Australian Pacific LNG venture, which also includes China Petrochemical Corp., said it's on track to make a final investment decision on a second liquefied natural gas, or LNG, processing unit by mid-2012. The binding deal to sell one million metric tons of LNG a year to the Japanese utility from 2016 is contingent on execution of the final investment decision.