News: ORG UPDATE 1-Australia deems Origin not breaching sanctions on Russia at gas project

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MELBOURNE, April 12 (Reuters) - Origin Energy (ORG) said on Tuesday the Australian government has confirmed the company is not breaching sanctions against Russia at a gas project in the Northern Territory, where its partner has a Russian oligarch shareholder.

Australia last month added Russian billionaire Viktor Vekselberg to its list of oligarchs close to President Vladimir Putin facing targeted financial sanctions and travel bans over Ukraine, potentially raising issues for Origin's Beetaloo gas exploration programme.

Vekselberg's Lamesa Holdings is a minority shareholder in Falcon Oil & Gas, the parent company of Origin's partner in the Beetaloo Basin.

The Australian Sanctions Office advised Origin that Vekselberg is not currently benefiting from any asset tied to the Beetaloo joint venture's activities, the company said on Tuesday.

"While no gas is currently being produced and no revenue is being generated, Origin will continue to exercise diligence in this matter, and seek further advice should joint venture structures change or should the project progress beyond exploration," Origin's gas chief, Andrew Thornton, said in a statement.