News: ORG UPDATE 2-Origin Energy's APLNG revenue rises on surging energy prices

(Adds analyst's comments, share moves)

July 29 (Reuters) - Australia's Origin Energy (ORG) on Friday recorded a 64% jump in fourth-quarter revenue from the stake it holds in the Australia Pacific LNG (APLNG) project, helped by a surge in realised prices for liquefied natural gas (LNG) and oil.

The power producer's revenue from APLNG, its joint venture with ConocoPhillips COP.N and Sinopec 600028.SS , rose to A$697.1 million ($487.90 million) for the three months ended June 30, compared with A$425.2 million a year earlier. Origin currently owns 27.5% stake in the project.

Its shares rose 1.6% in early trade. 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 also 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.

The company's 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.

"Overall, APLNG performance was above our expectations after seasonal increases in domestic gas sales," analysts at RBC capital markets said in a note.

During the quarter, total sales volume for Origin's share of the APLNG project, however, fell 28% to 45.9 petajoules due to outages at local coal-fired power plants and high electricity demand across the country. It missed an RBC estimate of 48 petajoules.

($1 = 1.4310 Australian dollars)