In October 2008, ConocoPhillips and Origin Energy closed on a transaction to create a long-term natural gas business focused on coalbed methane production in Australia and LNG processing and sales. Australia Pacific LNG (APLNG) intends to develop Australia’s largest coalbed methane reserves base into a coalbed methane-to-LNG project capable of delivering 14 million metric tons annually. The project will create a new Australian LNG business hub serving Asia Pacific and other international markets. A final investment decision for Train 1 is expected at the end of 2010, and APLNG is targeting first LNG production in 2014.