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Huge Origin write-down raises questions over Australia’s gas transition plan – RenewEconomy
Origin Energy set to wipe off $1.2 billion from the value of its gas investments, as it gets caught out by a collapse in global oil and gas prices.
Origin Energy is set to wear up to $1.2 billion in write-downs as a result of a collapse in global gas prices, as the company assesses the impacts of a Covid-19 affected economy on its LNG investments and as the massive write off of global fossil fuel assets has its impact in Australia.
In a statement to the ASX, Origin Energy said that it had been forced to write down the value of two of its LNG investments, after it was caught out by a sudden collapse in global gas prices.
It’s a substantial…
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