Conoco Warns of Cost Impact by Strengthening Australian Dollar

摘要

Australia's burgeoning LNG sector faces a "struggle" in the near term because of rising cost pressures and the impact of a strong Australian dollar, ConocoPhillips Australia President Todd Creeger said last week. Despite this, Conoco remains confident of approving by the end of the year the second phase of its US$20 billion Australia Pacific LNG project in Queensland with partner Origin Energy, Creeger said. Last week, the partners gave a green light for the $14 billion first phase, which includes building the first of two planned LNG trains with a total capacity of 9 million tons annually, or about 1.2 billion cubic feet of gas per day.