Oz Origin Reports Record APLNG Revenue

Australian gas and power retailer, Origin Energy, said April 30 Australia Pacific LNG (APLNG) delivered its highest-ever quarterly revenue for the three months to March 31 (Q32019) thanks to higher prices.

Origin’s share of the revenue was A$763.9 million (US$539mn), an increase of 53% compared with the same quarter in 2018.

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’s share of production was stable at 63 petajoules, it said. A total of 33 LNG cargoes were loaded and shipped from APLNG.

Realised LNG price for APLNG during the quarter was $10.84/mn Btu as against $8.10/mn Btu last year, Origin said.