MELBOURNE, Jan 31 (Reuters) - Origin Energy (ORG), Australia's top energy retailer, reported a 27 percent rise in gas revenue in the December quarter on the previous quarter, thanks to higher prices and the ramp-up of output at the Australia Pacific liquefied natural gas project (APLNG).
Origin's production rose to 80.1 petajoules equivalent (PJe) in the three months to Dec. 31, up 8 percent from the previous quarter, while revenue rose to A$544.3 million ($411.2 million).
Output is growing as the company gets set to spin off its conventional gas exploration and production arm in an initial public offering this year, expected to fetch A$1 billion. It plans to hold on to its stake in APLNG.
The APLNG project in Queensland is co-owned by operator ConocoPhillips
, Origin and China's Sinopec <600028.SS>. APLNG shipped 26 cargoes in the December quarter mainly to Sinopec and Japan's Kansai Electric Power Co <9503.T>, Origin said, with the second of two production units, called trains, having started up in October. ($1 = 1.3236 Australian dollars)
MELBOURNE, Jan 31 (Reuters) - Origin Energy (ORG), Australia's...
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