Reuters) - China's Sinopec will finalise its purchase of a 15 percent stake of the $35 billion Australia Pacific liquefied natural gas (LNG) project on Thursday, a source familiar with the matter said.
In February, Sinopec Group, parent of Sinopec Corp , had signed a preliminary deal for the stake in the giant coal seam project owned by U.S. energy firm ConocoPhillips and Australia's Origin Energy .
Sinopec had also agreed to buy 4.3 million tonnes of LNG a year starting 2015 from the project in the northeast state of Queensland.
Origin declined to comment on Thursday. The company has called a halt to trading in its shares pending an announcement on the project later in the day.
ORG Price at posting:
$16.23 Sentiment: Hold Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)