By Rajasik Mukherjee

April 30 (Reuters) - Shares of Origin Energy ( OGFGF )

dropped on Wednesday after the power producer logged a 10%

sequential fall in third-quarter revenue from its stake in the

Australia Pacific LNG project (APLNG), pressured by weaker LNG

volumes and prices.

Shares of the firm were down 1.6%, as of 0123 GMT, on track

for their worst day since April 11, if losses hold.

Liquefied natural gas (LNG) prices have stayed under

pressure since early 2025, weighed down by subdued demand

following a mild winter in Asia and heightened fears of a global

recession triggered by U.S. President Donald Trump's tariff

policies.

"Production was slightly lower, reflecting fewer days than

the prior quarter, lower performance across some operated and

non-operated fields," Origin CEO Frank Calabria said, adding

that tropical Cyclone Alfred impacted the LNG shipping schedules

as well.

Origin realised $11.31 per metric million British thermal

units (mmBtu) for its LNG product from the APLNG project in

Queensland, compared with $12.20 per mmBtu in the second

quarter.

"APLNG's weaker FY25 distributions to ORG may be perceived

as a negative," Citi analysts said, and noted that quarterly

revenue from APLNG was a 6% miss against its forecast.

The company reported revenue from APLNG - a joint venture

with U.S. oil and gas major ConocoPhillips ( COP ) and Sinopec

- of A$616 million ($393.13 million) for the

three-month period ended March 31, compared with A$681 million

seen in the December quarter.

Its production share from the project fell 3% to 46

petajoules from the previous quarter, with total sales falling

7% sequentially.

($1 = 1.5669 Australian dollars)