Australia Pacific LNG continues to deliver strong revenue growth
Origin Energy Limited (Origin) has released its Quarterly Production Report for the quarter ended 31 March 2018.
Origin’s share of Australia Pacific LNG production for the financial year-to-date was 189.6 PJe, an increase of 14 per cent on the comparable period in the 2017 financial year, reflecting production from two trains for the period to date.
Origin’s share of Australia Pacific LNG related revenue for the first nine months of the 2018 financial year was $1,476 million, an increase of 48 per cent over the same period last year. The increase in revenue was due to improved sales volumes of LNG and higher prices for both domestic gas and LNG.
Origin CEO Frank Calabria said, “We are now seeing strong momentum from Australia Pacific LNG, with production continuing to be very reliable and a total of 30 LNG cargoes loaded and shipped in the quarter. In April, Origin received $136 million from Australia Pacific LNG as the joint venture returned funds to shareholders.
“Origin welcomes the recent decision by the Northern Territory Government to lift the moratorium on fracking, and we look forward to recommencing our exploration and appraisal activity in the Beetaloo Basin in 2019.
“The formal completion of the sale of Lattice Energy also took place in the quarter, helping Origin deliver on our commitment to simplify our operations and reduce debt,” Mr Calabria said.
Australia Pacific LNG expects to complete a planned maintenance program, which will involve Train 1 being shut down for approximately 16 days during the June quarter.
Note: This report is limited to Origin’s Integrated Gas business and therefore excludes other operations such as electricity generation, energy retailing or non-hydrocarbon development activity.
Group Manager, External Affairs
Ph: +61 2 8345 5119
Mobile: +61 408 400 227
Senior Manager, Investor Relations
Ph: +61 2 9375 5991
Mobile: +61 401 710 367