July 31 (Reuters) - Australia's Origin Energy ( OGFGF )
posted a 6% sequential decline in fourth-quarter revenue from
its stake in the Australia Pacific LNG (APLNG) project on
Thursday, as lower underlying commodity prices weighed on
earnings.
Origin confronted pricing pressure in the June quarter as
China - the nation's biggest trade partner and a major LNG
consumer - showed tepid demand growth, with natural gas imports
trailing last year's levels amid ongoing economic woes.
The company realised $10.26 per metric million British
thermal units (mmBtu) for its LNG product from the APLNG project
in Queensland, compared with $10.70 per mmBtu in the third
quarter.
Its production share from the project rose 1% to 46.5
petajoules (PJ) sequentially, with total sales flat
quarter-on-quarter.
The Sydney-based firm said it expects production at the
APLNG project in fiscal 2026 to be 635-680 PJ, compared to 682.1
PJ in fiscal 2025, citing lower output in some of its operated
and non-operated fields.
Origin holds a 27.5% interest in APLNG, which is the largest
producer of natural gas in eastern Australia.
The power producer reported revenue from the APLNG project -
a joint venture with U.S. oil and gas major ConocoPhillips ( COP )
and China's Sinopec - of A$547 million
($352.32 million) for the three months ended June, compared with
A$583 million in the previous quarter.
($1 = 1.5526 Australian dollars)