The move, which will come at a loss for Origin, will distance company from Russian businessman Viktor Vekselberg
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Origin Energy will sell its stake in its Beetaloo Basin gas project at a loss and review all its other exploration permits in a move that will distance it from an environmental controversy and end its association with sanctioned Russian oligarch Viktor Vekselberg.
Chief executive Frank Calabria said gas remained “a core part of our business” but getting out of gas exploration would free up money to “grow cleaner energy and customer solutions, and deliver reliable energy through the transition”.
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