Origin Energy and BG Group have jointly informed the Australian Petroleum Production and Exploration conference held in Brisbane today that they will reveal by the end of the year if the planned multi-billion dollar liquefied natural gas (LNG) project in Queensland would push through.

The two energy firms have been planning to convert coal seam gas into LNG in Gladstone, with products beginning to roll out for export by 2014, but the impending imposition of the resource super profits tax apparently doused cold water on the enthusiasm of many players in the mining industry.

Origin Energy managing director Grant King lamented that the 40 percent tax to be incurred by the resource industry has rendered it nervous about new projects, adding that the mining sector is "at the stage of trying to crystallise what we think are large investments for Queensland and Australia, so the timing is extremely unfortunate."

The new super tax is scheduled to take effect in July 2012 and Mr King is hoping to have "accelerated, deep discussion with government on how we then deal with that."

Earlier this month, Origin Energy has indicated that the government proposed tax could significantly delay and increase the cost of its planned $35 billion LNG project, while BG Group has affirmed that they will have to reconsider the company's final investment decision after some 'environmental approvals'.

Company vice president Catherine Tanna said that BG Group has sealed a sales contract with China National Offshore Oil Corporation for the delivery of up to 3.6 million tonnes per annum (MTPA) of LNG over the next 20 years.

Queensland has so far received proposals from eight entities seeking to export LNG from Gladstone and Abbot Point.