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Origin said in its quarterly report that APLNG revenue reached about A$2.42 billion ($1.55 billion) in January-March.
APLNG revenue decreased from A$2.55 billion in the same quarter last year, and was down 10.6 percent compared to the prior quarter.
The project’s LNG revenue of about A$2.24 billion dropped 10 percent compared to the prior quarter.
Origin attributed the drop to lower sales volumes and lower realised average LNG prices.
The company’s share of APLNG revenue for the March quarter was A$616 million, down 10 percent compared with the prior quarter and a drop of 7 percent compared to the same quarter in 2024.
Origin received a fully franked dividend of A$185 million in March 2025 from APLNG, taking full year distributions to A$797 million fully franked.
The company owns a 22.5 percent in the project and is the upstream operator, while China’s Sinopec owns a 25 percent share in APLNG.
US energy giant ConocoPhillips has a 47.5 percent share in the APLNG project and operates the 9 mtpa LNG export facility on Curtis Island near Gladstone.
Last year, APLNG shipped its 1000th LNG cargo since it started operations in 2016.
34 LNG cargoes
Origin said that APLNG shipped 34 LNG cargoes during the March quarter, the same as in the March quarter of 2024 and down by two cargoes compared to the prior quarter.
During July-March, APLNG shipped 104 cargoes, seven more compared to the same period in the year before.
APLNG’s March quarter realized average LNG price was $11.31/MMBtu, compared to 12.17/MMBtu in the same quarter last year and 12.20/MMBtu in the prior quarter, while average domestic price was A$6.34/GJ.
Production of 167.1 PJ dropped 3 percent compared to the previous quarter, and it decreased 5 percent compared to the same quarter last year.
Origin CEO Frank Calabria said that APLNG “continues to perform well in meeting its domestic and international customer commitments.”
“However, production was slightly lower reflecting fewer days than the prior quarter, lower performance across some operated and non-operated fields, and some unplanned impacts as Tropical Cyclone Alfred interrupted LNG shipping schedules,” he said.