News: ORG UPDATE 1-Australia's Origin Energy APLNG revenue falls on weak LNG prices

(Adds details on LNG prices, March qtr production)

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

Asian spot prices for LNG scaled a record peak in January but ended the quarter lower due to increased supplies and a drop in demand for the fuel used for heating following the end of winter.

Origin's average realised price for LNG from the APLNG project in Queensland came in at $6.45 per metric million British thermal unit (mmBtu) for the three months ended March 31, down from $8.56 per mmbtu a year earlier.

That pushed down the electricity and gas retailer's revenue from its share of the project to A$427.5 million ($332.04 million), compared with A$628.5 million a year earlier. RBC Capital Markets had expected a figure of A$430 million.

However, the company said it expected the recent increase in oil prices and a lag in LNG contracts to contribute to its revenue in the next fiscal year.

Production at APLNG, one of the largest producers of natural gas in eastern Australia and a joint venture between Origin, ConocoPhillips COP.N and China's Sinopec 600028.SS , fell 2% to 65.4 petajoules in the March quarter.