News: ORG UPDATE 1-Origin Energy APLNG revenue doubles on surging energy prices

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July 29 (Reuters) - Australia's Origin Energy (ORG) on Friday recorded a 103% rise in its fourth-quarter revenue from its stake in the Australia Pacific LNG (APLNG) project due to a surge in realised prices for liquefied natural gas (LNG) and oil.

Western sanctions on Russia for its invasion of Ukraine have sent prices for liquefied natural gas (LNG) and oil to all-time highs, leading Western nations to look for alternatives to Russian energy supplies.

"In the gas business, Australia Pacific LNG has performed very strongly this financial year, with revenue more than doubling on the strength of commodity prices," Frank Calabria, chief executive officer of Origin said in a statement.

Australia's second largest power producer said they have made good progress in addressing coal supply constraints at the country's largest coal-fired plant Eraring which was facing supply issues over the past year.

Origin said revenue from APLNG, a joint venture with ConocoPhillips COP.N and Sinopec 600028.SS , rose to A$2.74 billion ($1.92 billion) for the three months ended June 30, compared with A$1.35 billion a year earlier.

Average realised price for LNG in the quarter was $14.24 per metric million British thermal unit (mmBtu), up from $7.23 a year earlier.

Sales at the APLNG project, located in Queensland, fell nearly 2% to 166.9 petajoules.

($1 = 1.4310 Australian dollars)