APLNG gas output rebounds in 2023-24: Origin

Spanish Market: Electricity, Natural gas
31/07/24

The 9mn t/yr Australia Pacific LNG (APLNG) project in Queensland state produced and sold more LNG in the 2023-24 fiscal year to 30 June than the previous year, upstream operator Australian independent Origin Energy said in its April-June results.

APLNG's 2023-24 output totalled 694PJ (18.53bn m³) or 3pc higher than a year earlier when it produced 674PJ, while sales of 665PJ were also 3pc up on 2022-23's 645PJ. APLNG's guidance for the year was 680-710PJ.

The 2022-23 fiscal year was affected by cumulative wet weather that Origin said cut APLNG's output from 693PJ in 2021-22.

This improved result was because of well and field optimisation Origin said, offset by the stranding of an LNG carrier at APLNG's wharf in Gladstone harbour last November that led to a temporary fall in gas production.

APLNG exported 127PJ (2.29mn t) of LNG through 33 cargoes for April-June, 4pc down from 132PJ and 34 cargoes the previous quarter and 1pc down on the 128PJ and 33 cargoes shipped in April-June 2023. APLNG delivered 15 spot cargoes in 2023-24, up from seven the previous year.

Total LNG sales for 2023-24 from APLNG were 503PJ, up from 495PJ a year earlier, with 130 cargoes up from 128 in 2022-23.

The project's average realised LNG price for 2023-24 was $11.85/mn Btu, down by 17pc from $14.20/mn Btu a year earlier. APLNG provided Origin with A$1.367bn ($888mn) in cash distributions for 2023-24, net of Origin's oil hedging.

The average National Electricity Market spot price for April-June was A$134/MWh, up by 14pc from A$118/MWh a year earlier, Origin said, with its 2,880MW Eraring coal-fired power station's output for 2023-24 up by 2.1TWh on 2022-23 to 14.3TWh.

Eraring, which will now run at least two years longer than expected following a deal with the state government, benefited from the A$125/t coal price cap during 2023-24. Its weighted-average coal price is expected to be A$30/t higher in 2024-25, Origin said.

By Tom Major

Origin Energy results
	Apr-Jun '24	Jan-Mar '24	Apr-Jun '23	y-o-y % ±	q-o-q % ±

Production (PJ)	175	176	176	-1	-1
Sales (PJ)	177	168	165	7	5
Commodity revenue (A$mn)	2,602	2,303	2,471	5	2
Average realised LNG price ($/mn Btu)	11.70	12.17	12.24	-4	-4
Average realised domestic gas price (A$/GJ)	9.30	6.90	6.79	37	35
Source: Origin Energy

Related news posts

Argus illuminates the markets by putting a lens on the areas that matter most to you. The market news and commentary we publish reveals vital insights that enable you to make stronger, well-informed decisions. Explore a selection of news stories related to this one.

14/07/25

Southeast Asia targets regional power grid by 2045

Singapore, 14 July (Argus) — Members of the Association of Southeast Asian Nations (Asean) have announced their target to establish the Asean power grid by 2045, and reaffirmed their commitment to enhance energy interconnection. The bloc aims to establish the regional power grid to ensure a secure and interconnected low-carbon regional energy future, according to a joint statement released following an Asean foreign ministers' meeting last week in Malaysia. As part of this, members will also sign an enhanced memorandum of understanding for the development of the Asean power grid, and endorse the terms of reference of a subsea power cable development framework this year. The Asean power grid is a cross-border initiative aimed at helping the region source and share electricity, especially against the backdrop of rising energy demand because of economic growth. The group also acknowledged the progress of the Lao PDR-Thailand-Malaysia-Singapore power integration project (LTMS-PIP), as well as the Brunei Darussalam-Indonesia-Malaysia-Philippines power integration project (BIMP-PIP). The LTMS-PIP is being enhanced under its second phase to double the capacity traded to 200MW, Singapore's Energy Market Authority announced last year. The group also reaffirmed its commitment to enhance energy interconnection by accelerating the establishment of a trans-Asean gas pipeline, Asean petroleum security agreement, and carbon capture, utilisation and storage. The Asean Centre for Energy on 11 July secured NZ$200,000 ($119,800) from New Zealand's Ministry of Foreign Affairs and Trade to support the implementation of the Asean plan of action for energy co-operation (APAEC). The APAEC serves as the region's blueprint for energy co-operation and the document sets out strategies and action plans to enhance regional connectivity and market integration. The grant from New Zealand will support activities and initiatives related to the Asean power grid, renewable energy and regional energy and policy planning. More details were not provided. By Prethika Nair Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Brazil advances oil, gas decarbonization strategy

11/07/25

Brazil advances oil, gas decarbonization strategy

Sao Paulo, 11 July (Argus) — Brazil is implementing a roadmap to increase crude output without boosting net emissions from the sector, a key argument for its claim to leadership on climate issues ahead of the Cop 30 UN summit. Although Brazil does not plan to phase out fossil fuel use, it is working to reach net zero emissions by 2050, and slashing greenhouse gases from its hydrocarbons production is part of this strategy. Brazil's oil industry already has a carbon footprint at 14.88kg CO2 equivalent (C02e)/bl of oil equivalent (boe), which is well below the global average of 20kg CO2e/boe, according to the hydrocarbons regulator ANP. But with oil and gas production slated to increase steadily over the next decade, Brazil's government and producers are eyeing a range of options to further slash emissions. "Brazil can double oil output without increasing net emissions by employing existing technologies," Heloisa Borges, the director of oil, gas and biofuels at the government energy planning and research agency (Epe) said. As part of these efforts, the government called on Epe, ANP and state-owned company Pre-Sal Petroleo to present a roadmap to decarbonize the sector. The plan presented in late June outlines options including adopting new technologies and expanding existing emissions reductions techniques, such as leak detection and reducing flaring. "Expanding methane capture not only reduces emissions, but it allows companies to use this gas to substitute other fuels, such as diesel in their operations," Borges said. Other fuel substitution operations include using natural gas as fuel for drilling rigs and electrification of production operations, the study said. State-controlled Petrobras is already advancing its decarbonization strategy. The company's most recent five-year plan earmarks R5.3bn ($950mn) for emissions reductions in its operations as well as $1bn for research and development of new technologies. Carbon capture, utilization and storage (CCUS) is a key element, according to Lilian Melo, executive director of the Petrobras' research, development and innovation center Cenpes. The company uses high-pressure separation technology to remove CO2 from oil at the mouth of a reservoir and inject it back into the reservoir after the fluids are separated. This technology significantly reduces emissions, especially because crude produced from pre-salt blocks has high CO2 content, Melo said. The CCUS is used on 23 of Petrobras' offshore platforms in the pre-salt. Petrobras is also working to expand electrification of its on and offshore platforms. Power generation is responsible for 65pc of Petrobras' production-related emissions, according to Melo. The company announced this week a contract with Hitachi Energy to assess electrification of its offshore oil operations. Catch and keep Other oil producers are working to reduce the carbon footprint of their operations, including Eneva, which is also weighing investments in carbon capture and storage. The company is conducting a preliminary study to assess the technical viability of injecting CO2 into fields in the Parnaiba basin in Maranhao state. The Gaviao Real field has been operating for more than 10 years and is expected to become depleted in coming years, when it could potentially be converted to store CO2. Eneva is also weighing investments in carbon storage in the Parana basin, where the company has four exploratory blocks. Preliminary seismic data indicates that these blocks also have salt caverns and the company believes that there is significant potential to offer carbon storage to ethanol mills in areas adjacent to the blocks. Despite Brazil's ambitious emissions reduction plan, it has no intention of pulling back on exploration and production. With few exceptions, the Brazilian government is aligned on developing oil and gas reserves to boost economic growth and energy security and holds that the aim does not hurt its role in climate leadership. Brazil's energy sector GHG emissions mn t CO2e Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

DOE to halt wind transmission line: US senator

11/07/25

DOE to halt wind transmission line: US senator

Houston, 11 July (Argus) — President Donald Trump's administration has pledged to halt an 800-mile transmission line designed to deliver wind power from Kansas to eastern states, according to a US senator. US energy secretary Chris Wright has said he "will be putting a stop" to the Grain Belt Express transmission line, senator Josh Hawley (R-Missouri) said on Thursday via the X social media platform. Hawley has made repeated calls for the Department of Energy (DOE) to cancel a $4.9bn conditional loan awarded to the project in the waning days of former president Joe Biden's administration. The senator has called the project an "elitist land grab harming Missouri farmers and ranchers". Whether Wright pledged to rescind the loan or take other action to stop work on Grain Belt Express was not immediately clear from Hawley's statement. Neither the senator's office nor DOE immediately responded to requests for additional information. Hawley's statement is "bizarre", according to Invenergy, the Chicago-based developer behind the project. The company said that the transmission line has already received approvals from all four states that it will traverse, acquired 1,500 agreements with landowners tied to construction and announced "significant" supply chain agreements for materials sourced domestically. "Senator Hawley is attempting to kill the largest transmission infrastructure project in US history, which is already approved by four states and is aligned with the president's energy dominance agenda," the company said. The Grain Belt Express would deliver wind power from Kansas to converter stations in Missouri and Indiana, with the Missouri station connecting to grids overseen by the Associated Electric Cooperative and Midcontinent Independent System Operator (MISO), while the Indiana station links with the PJM Interconnection. Invenergy plans to build the project in two phases, with the first delivering 2,500MW into Missouri and the second ferrying another 2,500MW to the PJM region, which includes the District of Columbia and 13 states in the Midwest and mid-Atlantic. DOE in November 2024 awarded the project a conditional loan of up to $4.9bn to help finance the initial stage as part of Biden's larger push to decarbonize the electricity sector. Invenergy intends to start construction on the first phase next year. Ultimately, the line would supply 15mn MWh/yr to Missouri, with 60pc of the capacity allocated to MISO and the remainder to the Associated Electric Cooperative. Another 15mn MWh/yr would flow into the PJM markets. Altogether, the line would supply enough electricity to cover the demand of more than 2.8mn households. Landowner groups in Missouri have long targeted the Grain Belt Express, but have failed to stymie the project through a challenge to its use of eminent domain . Opponents have since continued their efforts against the project, and Missouri attorney general Andrew Bailey, a Republican, last week called on state utility regulators to rescind the line's permit on grounds that Invenergy relied on "deceptive" information to secure its approval. By Patrick Zemanek Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Canada focuses on new US deadline, diversifying trade

11/07/25

Canada focuses on new US deadline, diversifying trade

Calgary, 11 July (Argus) — Canadian prime minister Mark Carney reiterated his plan to diversify trade with countries "throughout the world" following another round of tariff threats, and another deadline, from US president Donald Trump. Carney's comments on social media late on 10 July came hours after Trump said Canada could expect a 35pc tariff on all imports , effective 1 August, repeating earlier claims that the northern country was not doing enough to stop fentanyl from crossing into the US. Canada has said these claims are bogus but in late-2024 still committed to spending $900bn (C$1.3bn) on border security measures over six years. "Canada has made vital progress to stop the source of fentanyl in North America," Carney wrote on X. The prime minister said he is now working to strike a new trade deal before the 1 August deadline. Trump and Carney last month agreed they would work toward a broad trade agreement by mid-July, with Canada at the time targeting 21 July to finalize a deal. The 35pc tariff would be separate from tariffs set for specific sectors, which include a 50pc tariff on copper imports. It is not clear if any imports currently covered by the US-Mexico-Canada trade agreement (USMCA) would be affected by Trump's latest tariff threats. Carney has advocated the need to shore up trade partnerships with "reliable" countries since being sworn is as prime minister in March, saying the old relationship with the US "is over". The energy-rich nation needs to build more infrastructure to unlock this potential, and with a surge in public support, is trying to entice developers with a new law to fast-track project approvals . But those are multi-year efforts and Canada is still trying to reach a deal with the US to keep goods moving smoothly. The two economies are highly integrated with $762bn worth of goods crossing the US-Canada border in 2024, according to the Office of the US Trade Representative. Canada on 29 June rescinded a digital sales tax (DST) that would have collected revenue from the US' largest tech companies, after US secretary of commerce Howard Lutnick said the tax could have been a deal breaker in trade negotiations. That show of good faith — which seemingly got nothing in return — was criticized within Canada and contrary to Carney's repeated "elbows up" mantra in the face of Trump's threats. By Brett Holmes Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

China mandates renewable power use for industry

11/07/25

China mandates renewable power use for industry

Beijing, 11 July (Argus) — China's leading economic planning agency the NDRC and national energy administration NEA have set renewable power consumption goals for energy-intensive industries for this year and next, with green electricity certificates (GECs) serving as the key mechanism to achieve these targets. The new legislation sets renewable power consumption targets for the steel, cement, polysilicon and electrolytic aluminium production sectors, as well as for data centres, with the average ratio across all provinces set at 38pc in 2025 and 39pc in 2026. Data centres have a unilateral target of 80pc, while targets for other key industries vary by province. Provincial governments will this year assess the ratios set for the electrolytic aluminium sector. Yunnan and Sichuan provinces have the highest targets, needing to source 70pc of their industrial power use from renewables, owing to the high proportion of hydropower in their generation mixes. Provinces with concentrated wind and solar power projects, such as Gansu and Guangxi, have targets above 50pc. In contrast, Fujian province has the lowest ratio at 25.2pc. The targets follow an announcement by the NEA in March aiming to boost China's renewable power use , although the latest document does not specify penalties for failing to meet goals. Demand for GECs will rise as companies look to meet the new targets, with GECs being the key mechanism to achieve these goals. Market prices have risen since the announcement — Argus assessed 2025 vintage wind/solar GECs at Yn7.80/MWh ($1.09/MWh) on 10 July, up by Yn0.30/MWh from earlier in the week but down slightly from the assessment last week. 2024 wind/solar GECs were assessed at Yn3.10/MWh, also slightly lower week on week. Power utility association CEC expects Chinese power demand to grow by 5-6pc on the year in 2025, the organisation said this week in its annual industry report . Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Business intelligence reports

Get concise, trustworthy and unbiased analysis of the latest trends and developments in oil and energy markets. These reports are specially created for decision makers who don’t have time to track markets day-by-day, minute-by-minute.

Learn more

APLNG gas output rebounds in 2023-24: Origin

Related news posts

Southeast Asia targets regional power grid by 2045

Southeast Asia targets regional power grid by 2045

Brazil advances oil, gas decarbonization strategy

Brazil advances oil, gas decarbonization strategy

DOE to halt wind transmission line: US senator

DOE to halt wind transmission line: US senator

Canada focuses on new US deadline, diversifying trade

Canada focuses on new US deadline, diversifying trade

China mandates renewable power use for industry

China mandates renewable power use for industry

Business intelligence reports

Argus Carbon

Argus Carbon

Argus Low Carbon Hydrogen Strategy Report

Argus Low Carbon Hydrogen Strategy Report

Argus Hydrogen and Future Fuels

Argus Russian Generation Fuels and Power

Argus LNG Daily