ConocoPhillips exports first cargo from Australia Pacific LNG

ConocoPhillips’ (NYSE: COP) first cargo of liquefied natural gas (LNG) has departed from the Australia Pacific LNG (APLNG) facility on Curtis Island in Queensland, Australia.

Construction of the APLNG facility began in 2011 and consists of two production units, each with the capacity to deliver 4.5 million tonnes per annum of LNG.

Construction on the second production unit is nearing completion, with expected first LNG in the second half of 2016. The project is expected to be self-funding once the second unit comes on line, which will further increase the company’s capital flexibility.

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