Australasian energy provider Origin has struck a US$8 billion-dollar deal with Texas’ ConocoPhillips. The deal is set to put a liquefied natural gas plant on Curtis Island, just off the coast of Queensland.

The area is set to become Australia’s next energy export hub, hosting several plants to turn coal-seam gas into liquid natural gas, or LNG.

Origins share price soared to an all-time high just short of US$16.50 on the news.

ConocoPhillipsis an international energy corporation with its headquarters located in Houston. It was created through the merger of Conoco Inc. and the Phillips Petroleum Company in 2002. It is one of the six “supermajor” oil companies.

Origin is one of the leading providers of energy to homes and businesses throughout Australia, New Zealand, and the Pacific.

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