Origin's APLNG revenue up 78% in Jan-Mar
Australia’s Origin Energy on April 29 said the revenue from its stake in Australia Pacific LNG (APLNG) for the three months to March 31 (Q3) jumped 78% year/year due to higher product prices.
The company's revenue from APLNG rose to A$666.4mn ($473 million) in Q3 from A$374.1mn last year. Origin now holds a 27.5% stake in APLNG after selling 10% to joint venture partner ConocoPhillips.
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APLNG’s realised average LNG price was $14.36/mn Btu, up from $6.45/mn Btu a year earlier. Its average domestic gas price was up 23% yr/yr, Origin said.
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.