Apache has committed to exit its two LNG projects, Wheatstone and Kitimat and review its international portfolio. This means that its Australian business could be sold or spun off into a separately listed entity. We estimate Apache’s Australian portfolio has a remaining value of US$5.1 billion (discounted to 1 January 2014), of which Wheatstone represents US$2.6 billion.
Departing Australia would be a big shift for a company that is a major player in the Western Australian domestic gas market.
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Insight | Sep 2014
Apache eyes Australia exit
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