Origin Energy CEO has said the market is improving after a difficult quarter for the company’s LNG production.
Origin Energy experienced decreased LNG production in the last quarter due to wet weather impairing well access.
The company also experienced a 19 per cent decline in LNG sales volumes. This was expected, attributed to planned downstream maintenance requiring shutdown for part of the quarter. However, domestic sales volumes increased 62 percent.
CEO Frank Calabria described the last quarter as incredibly challenging, but said that market conditions across the national energy market have improved.
“Australia Pacific LNG continues to fulfil its commitment to supply the domestic market, providing it with 52.6 PJ of gas during the quarter,” said Calabria.
Origin continues to pursue its strategy for reducing emissions, with a total of $169 million invested in renewable, including $6 million in NSW alone.