Curtis Island's APLNG gives Origin revenue boost
AUSTRALIA Pacific Liquefied Natural Gas plant has helped Origin Energy produce an increase of almost 50% for the first quarter on 2016.
In the company's quarterly report, revenue increased by 49% on the same quarter the year before and the revenue excluding APLNG revenue only increased 2%.
The company took in a total of $316.4 million in the quarter.
This was the first quarter the investment in the LNG plant had resulted in revenue with the first shipment sent on January 9.
Since then 11 cargoes were loaded and shipped in the quarter, of which eight went to one of the owners of APLNG, Sinopec.
This improvement has made the company increase its forecast revenue from $30-$80 million to $100-$150 million.