The company announced today it expected a non-cash impairment loss of between $190 million to $200 million relating to the sale of a 10 per cent stake in APLNG.

The deal was expected to be finalised in the first quarter but it would also incur a capital gains expense of $170 million to $180 million because of the transaction. No significant cash payment is expected as a result of the offsetting tax deductions.

Offsetting the losses would be a $100 million to $110 million benefit caused by the release of funds from the foreign currency reserve.

Origin’s intention to sell down the 10 per cent stake in Australia Pacific LNG for $2.12 billion was announced in October last year.

“At the time of the announcement, Origin said the sale of the 10 per cent stake allowed Origin to crystalise some of the significant value in APLNG, while retaining upside to further value creation through a continuing substantial shareholding,” the company said.

Origin has earned significant revenue from LNG in recent months as prices surged. It earned cash contributions of $555 million from the project, near Gladstone, in the six months to December.