July 31 (Reuters) - Shares of Origin Energy ( OGFGF )

marked their biggest intraday loss in eight months on Wednesday

after the firm posted a drop in quarterly revenue from its stake

in the Australia Pacific LNG (APLNG) project, reflecting a fall

in gas sales and prices.

The decline was partly due to a weaker average realised

price for liquefied natural gas (LNG), which dropped to $11.70

per metric million British thermal units (mmBtu) in the quarter,

compared with $12.17/mmBtu in the prior quarter.

The energy retailer said its share of revenue from APLNG, a

joint venture with U.S.-based oil and gas giant ConocoPhillips ( COP )

and China state-owned Sinopec, fell to A$590

million ($385.74 million) for the quarter, compared with A$633

million in the previous quarter.

LNG sales at the APLNG project fell 3% to 35.1 petajoules

quarter-on-quarter.

Shares of the utility company fell as much as 4.1% to

A$10.17, losing most since December 2023. The stock hit its

lowest levels since June 18.

The result comes after oil prices remained volatile in the

second quarter, as a price increase following OPEC+ supply cut

was countered by weak Chinese demand.

Origin's output from an Eraring coal-fired power plant, the

country's largest, rose by 14.3 Terawatt hours (TWh) in fiscal

2024, up 2.1 TWh from prior year.

"Gas volumes to generation were higher to cover an Eraring

outage," analysts at Citi said, adding that it would weigh on

electricity procurement costs.

Recently, the company and the state of New South Wales (NSW)

agreed to delay the closure of Eraring plant by two years.

The company's policy centres around aiming to increase

generation to help put downward pressure on electricity prices.

($1 = 1.5295 Australian dollars)