• Revenue share from APLNG rises 4%
• Total production share from APLNG falls 1%
• Pretty stable qtrly performance for APLNG - Jarden

Oct 31 (Reuters) - Australia's Origin Energy (ORG.AX) , opens new tab reported on Thursday a sequential rise in its first-quarter revenue from its stake in the Australia Pacific LNG (APLNG) project, underpinned by strong natural gas sales and higher prices.

Origin, which is aiming to transition to greener sources of energy, said it is also assessing a range of early-stage renewable development opportunities.

Shares of the company were up 0.4% at A$9.54, as of 0014 GMT, while the broader benchmark index (.AXJO) , opens new tab was down 0.2%.

LNG prices rose during the reported quarter, helped by warm weather conditions in Asia driving increased energy requirements although prices have moderated in recent times amid tepid demand.

The energy retailer said its revenue share from APLNG, a joint venture with U.S. oil and gas company ConocoPhillips (COP.N) , opens new tab and China's state-owned Sinopec (600028.SS) , opens new tab, rose to A$615 million ($404.24 million) for the quarter ended Sept. 30, compared with A$590 million in the previous quarter.

The revenue missed a Jarden estimate of A$641 million.

The country's second-largest power producer realized $11.95 per metric million British thermal units (mmBtu) for its LNG product in the September quarter from the Queensland project, higher than $11.70 in the June quarter.

LNG sales at the APLNG project rose by 4% from the previous quarter to 36.3 petajoules (PJ), the Australia-based company said, adding that its total production share from the project still fell 1% sequentially to 47.7 PJ.

"Pretty stable quarterly performance for APLNG, with upstream production volumes broadly flat quarter on quarter," Jarden analysts said in a note.

($1 = 1.5214 Australian dollars)

Sign up here.

https://www.reuters.com/business/energy/australias-origin-energy-first-quarter-aplng-revenue-rises-4-2024-10-30/