Origin Energy’s Australia Pacific LNG positioned itself once again as a leader on the market with unparalleled strong operational and sales performance.
“I’m pleased to report continued strong operational performance in the first quarter of financial year 2024 (FY2024) across both our integrated gas and energy markets business,” Origin chief executive officer Frank Calabria said.
He added that Australia Pacific LNG production for the first quarter was higher than the comparable quarter of last year as the teams continued to focus on reducing the backlog of offline wells and production optimisation, following the wet weather impacts.
“This improved production allowing Australia Pacific LNG to boost sales volumes to the domestic market and deliver $2345 million in revenue for the quarter.”
This period was a real “milestone” for the company, together with the construction of the first phase of the Eraring battery.
“We progressed several brownfield battery development projects, as part of our strategy tp accelerate renewables and cleaner energy,” Calabria said.
Octopus Energy, in which Origin has a 20 per cent interest, also accelerated its growth in customer numbers announcing another significant acquisition and an uplift in Kraken licensing agreement to more than 40 million customer accounts.
“The potential to add another 10 million gas accounts following these licensing agreements would take total Kraken accounts halfway towards the target of 100 million customer accounts by 2027,” said Calabria.