Australia’s Origin Energy Ltd. expects to write off $190-200 million by selling a 10% stake in the Australia Pacific liquefied natural gas (LNG) venture.

Ahead of the release of its half-year results on Thursday, the integrated energy company disclosed that the completion of the sale by the end of March will likely leave the company with a one-time impairment charge.

Australia Pacific LNG in Gladstone, Queensland, consists of two trains capable of a combined capacity of 10 million metric tons/year (mmty). It is considered the largest LNG facility on Australia’s eastern seaboard.

The liquefaction facility was created as a joint venture of Houston-based ConocoPhillips (37.5%), Origin (37.5%) and China’s state-owned China Petroleum & Chemical Corp., aka Sinopec (25%). Origin...