Origin Energy : December Quarter Australia Pacific LNG Revenue Increases

(RTTNews) – Origin Energy Limited (ORG.AX, OGFGF.PK) reported that Australia Pacific LNG revenue for the December quarter increased 42 percent on the corresponding quarter in 2021, driven by higher realized oil prices. Origin share of revenue for the quarter was A$876 million.

Australia Pacific LNG production of 165.6 PJ was a 1 per cent decline compared to the prior quarter due to the cumulative impact of wet weather on well access.

Total electricity sales volumes increased 4 per cent from the corresponding quarter in 2022, driven by higher business volumes as Origin won new customers.

Gas sales volumes remained relatively flat with higher business volumes on net new customer wins partly offset by lower gas demand for electricity generation.

Origin said it received A$783 million in cash distribution from Australia Pacific LNG for the six months to 31 December 2022.