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Origin revenue receives boost

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LNG Industry,

Australian LNG exports have been boosted from Gladstone as Origin Energy’s Australian Pacific LNG plant nears full output.

Australia logged record LNG export revenues of AUS$1.9 billion in November, despite international oil prices remaining depressed.

Data shows that the APLNG plant at Gladstone, which is operated by a joint venture between ConocoPhillips and Origin, has nearly doubled its gas intake since September, just before the second of APLNG’s two trains started.

Between July and November, monthly Australian LNG revenues grew from AUS$1.39 billion to AUS$1.9 billion. While the surging exports are good news for the LNG companies and Australia’s balance of trade, they are likely to fuel some criticism.

On the east coast, domestic gas buyers have been calling for action on high prices amid concerns of shortages as the big plants suck up gas from as far away as Bass Strait and force locals to compete with international buyers.

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Australia LNG news LNG export news