ConocoPhilips and Origin Energy's JV will be selling feed gas to BG Group's rival gas project. The gas will be sold to a liquefied natural gas project (LNG), which will be the first of its kind in Australia.

No other details were made available by any of the companies.

The announcement of the deal was made public during a result briefing. Talking about it, the Chief Executive of Origin, Grant King said that the discussions were still going on with other LNG players.

Mr. King further added that they were now in a buyers' market and now with many choices coming up, it would be on the demand side to decide on terms of the deal.

Meanwhile the Origin, Conoco deal is looked as a value-adder by the experts. They believe that sales agreement will add to the overall value of Origin.

They are, however, concerned about the project getting delayed as Origin's other LNG project, Australia Pacific LNG (APLNG), has faced.

When asked about APLNG, King said that the $35 billion project is going to get approval for its first phase by the end of this year.