ConocoPhillips (COP)

[eFinanceMarkets]

ConocoPhillips could move Australia gas on proposed transcontinental line

ConocoPhillips (COP +1.1%) will consider diverting natural gas from fields in northern Australia along a proposed transcontinental pipeline that would link directly to markets in the southeast, a senior executive tells Reuters.

COP also is leaning towards developing the Barossa gas field offshore northern Australia, with a final decision due in Q1 2018, earlier than the company previously had indicated.

Kayleen Ewin, COP's VP for sustainability, communications and external affairs, says the proposed transcontinental line would open Australia's domestic market for northern producers.