Australia’s Origin hit by lower APLNG revenue

Rate this article

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

Read Full Article Here

For more great articles: LNG World News

(Visited 4 times, 1 visits today)