Origin Energy's Q1 APLNG revenue jumps on higher prices, data centre demand
Origin Energy's share of Australia Pacific LNG revenue rose 34.2% sequentially to A$667 million in the quarter to September 30, as realised LNG prices increased 33.6% to $13.27 per mmBtu. Electricity sales volumes rose 3% from a year earlier, with business volumes growing on data centre demand.
1. APLNG revenue rises
Origin Energy reported revenue of A$667 million from its share of Australia Pacific LNG (APLNG), up 34.2% sequentially. It realised $13.27 per mmBtu for LNG from the Queensland project, compared with $9.93 per mmBtu in the previous quarter. Origin's production share fell 1% sequentially to 44.8 petajoules, while its share of total sales rose 1%.
2. Electricity sales grow
Origin's electricity sales volumes increased 3% from the year-ago quarter, as business volumes grew on new and increased demand from data centre customers. CEO Frank Calabria said the company's gas generation assets were well suited to support the market over the peak summer period, noting expectations of higher-than-average temperatures.
