Origin's APLNG revenue spikes in April-June
Australia’s Origin Energy on July 29 said the revenue from its stake in Australia Pacific LNG (APLNG) for the three months to June 30 (Q4) jumped 64% year/year owing to higher realised LNG prices.
Its revenue rose to A$697.1mn ($487.90mn) in Q4 versus A$425.2mn in the same period of the previous year. Origin now holds a 27.5% stake in APLNG after selling 10% to joint venture partner ConocoPhillips last year. The company's average realised price for LNG in the quarter was $14.24/mn Btu, up from $7.23/mn Btu in the previous year.
|
Advertisement: The National Gas Company of Trinidad and Tobago Limited (NGC) NGC’s HSSE strategy is reflective and supportive of the organisational vision to become a leader in the global energy business. |
APLNG, a joint venture comprising Origin, ConocoPhillips and China's Sinopec, is Australia’s largest producer of coalbed methane (CBM) and supplies gas to Queensland’s domestic gas market, while also processing CBM into LNG for exports.
For the 12 months to June 30, the revenue from its stake in APLNG was A$2.55bn, up 75% yr/yr.