Origin enjoyed a further increase in gas prices in the September quarter, but sales were roughly flat from its Australia Pacific LNG business.
Origin would not comment on prices or the threat of caps, but chief executive Frank Calabria emphasised that APLNG had fully met its commitment to supply gas to the domestic east coast market.
Origin, which owns 27.5 per cent of APLNG alongside ConocoPhillips and Sinopec, said its gas sales volumes to business customers jumped 23 per cent because of new customer wins and higher short-term sales, while sales volumes to households were flat. Meanwhile, wet weather and maintenance work flattened growth in APLNG’s revenues from LNG production in the quarter, where sales edged up 1 per cent to $2.77 billion. Including LNG, average prices for APLNG rose 5 per cent to $17.21/GJ.Origin also highlighted a brighter outlook for its LNG trading business due to favourable hedging.
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