APLNG boosts Origin’s revenue

Australia’s Origin Energy on Wednesday reported a 26 percent increase in second-quarter revenue, on the back of higher Australia Pacific LNG output and higher realized prices.

The Sydney-based company said its revenue for the December quarter rose to A$686.3 million from A$544.3 million a year earlier.

Second-quarter sales climbed 8 percent to 88.9 petajoule equivalent (PJe), with production up 4 percent to 83.5 PJe, Origin said.

Origin’s production for the first half of the 2018 financial year was 172.6 PJe, or 12 percent higher than the prior comparable period, driven by a 15 percent increase in production from Australia Pacific LNG with a full six months’ contribution from Train 2.

Sales revenue for the half year to 31 December 2017 increased A$1.36 billion, an improvement of 40percentt, compared to the same period in 2016.

Origin CEO Frank Calabria said, “Australia Pacific LNG continued to perform well, delivering reliable upstream and downstream production in the December quarter. This is demonstrated by a total of 35 LNG cargoes loaded and shipped from Curtis Island, with the milestone of our 200th LNG cargo successfully loaded on 1 January 2018.”