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Australia's Origin Energy posts sequential jump in Q1 APLNG revenue on higher prices

By Reuters News

Oct 30 (Reuters) - Origin Energy ORG.AX on Friday logged a 34.2% sequential rise in first-quarter revenue from its stake in the Australia Pacific LNG project (APLNG), supported by higher realised oil prices on liquefied natural gas sales.

Revenue from APLNG — the power producer's joint venture with ConocoPhillips COP.N and Sinopec 600028.SS — came in at A$667 million ($469.03 million) for the three months ended September 30, compared with A$497 million in the June quarter.

LNG prices have surged since the prolonged Middle East conflict wiped out about 17% of export capacity at Qatar, the world's second-largest producer, tightening global energy markets. LNG/

Origin realised $13.27 per metric million British thermal units (mmBtu) for its LNG product from the APLNG project in Queensland, up 33.6% from the $9.93 per mmBtu in the fourth quarter.

Its production share from the project fell 1% sequentially to 44.8 petajoules (PJ) from the previous quarter, with total sales rising 1% sequentially.


($1 = 1.4221 Australian dollars)

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