Oz APLNG Q2 Revenue Drops

Australian gas and power retailer, Origin Energy, January 31 said Australia Pacific LNG (APLNG) revenue for the three months to December 31 (Q2 2020) dropped 3% year on year driven by lower effective prices.

The company's revenue was A$716.5mn (US$490mn) as against A$740.9mn in the year-ago period. APLNG output stood at 67.6 petajoules, up 7% year on year, Origin said. APLNG’s effective oil price in the quarter was US$69/b, down from US$76/b in the same quarter of the previous year.

APLNG (a joint venture comprising Origin, ConocoPhillips and Sinopec) is Australia’s largest producer of coalbed methane and supplies gas to Queensland’s domestic gas market, while also processing coalbed methane into LNG for exports. Origin Energy owns a 37.5% stake in APLNG.

The APLNG facility shipped a total of 35 LNG cargoes in Q2, three more than in the same quarter of last year, Origin said.