Origin Energy Ltd. is likely to spend A$3 billion ($2.76 billion) for New South Wales state electricity assets, including retail business EnergyAustralia, and sell shares to help finance a transaction, UBS AG said.
State Grid Corp. of China’s search for as much as $50 billion of international power assets may reveal that Duet Group and Spark Infrastructure Group are among Australia’s most attractive takeover targets.
ConocoPhillips , Origin Energy Ltd.’s partner in an Australian liquefied natural gas venture, said it aims to make a decision to proceed with the development at about the same time as rival projects in Queensland state.
AGL Energy Ltd.’s stake in the Moranbah gas project in Australia’s Queensland state may be worth about a third less because of the country’s plan to impose a 40 percent tax on resource profits, analysts said.
China Petrochemical Corp. , the nation’s second-largest oil company, agreed to acquire 15 percent of an Australian gas venture planned by ConocoPhillips and Origin Energy Ltd. as part of a fuel-purchase accord.