Australia’s Origin hit by lower APLNG revenue

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By Mirza Duran Origin Energy saw lower quarterly revenue from the Australia Pacific LNG project but it managed to renegotiate a crucial supply deal with China’s Sinopec.

Image courtesy of ConocoPhillips

Origin Energy, which holds a 37.5 per cent stake in the APLNG project, said Thursday the first price review under Sinopec’s long-term contract was completed with no change to the contract price.

APLNG is a joint venture between Origin, ConocoPhillips, and Sinopec.

Production at APLNG rose 6 per cent year-on-year to 66.8 petajoules during January-March, but dropped slightly below the December quarter’s record level.

Origin’s revenue from APLNG came in at A$628.5 million ($411.60 million) for the

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