Australia's Origin Energy quarterly APLNG revenue falls 32%

Credit: REUTERS/JASON REED

Origin Energy on Friday posted a 32% decline in third-quarter revenue from its stake in the Australia Pacific LNG (APLNG) project due to weak realised prices for liquefied natural gas (LNG).

April 30 (Reuters) - Origin Energy ORG.AX on Friday posted a 32% decline in third-quarter revenue from its stake in the Australia Pacific LNG (APLNG) project due to weak realised prices for liquefied natural gas (LNG).

The electricity and gas retailer's revenue from its share of the project for the quarter ended March 31 was A$427.5 million ($332.04 million), compared with A$628.5 million a year earlier.

It was largely in line with the RBC Capital estimate of A$430 million.

The APLNG project in Queensland is a joint venture between Origin, ConocoPhillips COP.N and China's Sinopec 600028.SS.

(Reporting by Sameer Manekar and Harish Sridharan in Bengaluru; Editing by Arun Koyyur)

((Sameer.Manekar@thomsonreuters.com; +918061823447; Harish.Sridharan@thomsonreuters.com;))

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