Origin Energy says LNG tanker has departed after outage
The news: A ship stuck at an Origin Energy LNG loading facility due to a power outage has now departed, the energy giant has confirmed. Origin was forced to turn down gas production after the outage at the Australia Pacific LNG facility on Queensland's Curtis Island on Tuesday, delaying the delivery schedule at the one-in, one-out terminal.
The numbers: Two cargo loads had already been deferred at the facility as of Tuesday, but Origin has not confirmed the total number of delayed vessels since. Australia Pacific LNG usually loads an LNG vessel every three days. Origin shares were trading slightly lower early in the session, down 0.7% to $8.185.
The context: It's not quite a return to business-as-usual for Origin, with the energy giant's long-awaited and once-delayed takeover vote set to take place on 4 December. Origin's board have dismissed a revised secondary takeover offer from the bidding consortium led by Brookfield and EIG, calling it "incomplete, complex and highly conditional". The board is recommending the primary offer of $9.39 per share, but has struggled to win over major shareholders such as AustralianSuper.
The source: ASX Announcement