Latest news with #AustraliaPacificLNG
Sydney Morning Herald
4 days ago
- Business
- Sydney Morning Herald
One of Australia's biggest gas producers says more of it needs to stay home
The largest producer of liquefied natural gas (LNG) on the east coast of Australia wants the federal government to force east coast producers shipping gas overseas to set some aside for local use. In a submission to the government's review of the nation's gas market, Australia Pacific LNG (APLNG) says an export licensing and permitting regime that guarantees supply for the domestic market is the best way to tackle concerns around looming supply shortfalls and higher prices. The proposal, to be submitted to the government's review on Friday, comes amid widespread fears of gas supply shortages in Victoria and NSW which the Australian Competition and Consumer Commission warned could occur by the winter of 2028, and long-running concerns that too much gas is being shipped overseas instead of kept onshore. APLNG – a joint venture between Australia's Origin Energy, US giant ConocoPhillips and China's Sinopec – said it was crucial a new market framework discouraged producers buying gas from the domestic market to ship overseas. 'All east coast LNG producers have a role to play to support the domestic market; however, east coast LNG producers alone cannot be the solution for the entire projected shortfall in southern gas supply,' according to the APLNG submission, seen by this masthead. Loading 'Without fundamental reform that delivers equitable domestic supply obligations across all east coast LNG producers, the existing instruments will continue to make projected future shortfalls worse by discouraging investment. A reformed policy framework must address LNG producer purchases from the domestic market for export. They should have to equitably contribute gas for Australian jobs and power generation.' While most of Queensland's gas is locked into long-term export deals and sold as LNG to buyers in Asia, APNG and the Shell-backed QCLNG joint venture are also key suppliers of east coast domestic gas, together accounting for about 40 per cent of the market. The state's third LNG exporter, the Santos-backed GLNG business, however, is a net withdrawer of domestic gas to meet its export commitments.
The Age
4 days ago
- Business
- The Age
One of Australia's biggest gas producers says more of it needs to stay home
The largest producer of liquefied natural gas (LNG) on the east coast of Australia wants the federal government to force east coast producers shipping gas overseas to set some aside for local use. In a submission to the government's review of the nation's gas market, Australia Pacific LNG (APLNG) says an export licensing and permitting regime that guarantees supply for the domestic market is the best way to tackle concerns around looming supply shortfalls and higher prices. The proposal, to be submitted to the government's review on Friday, comes amid widespread fears of gas supply shortages in Victoria and NSW which the Australian Competition and Consumer Commission warned could occur by the winter of 2028, and long-running concerns that too much gas is being shipped overseas instead of kept onshore. APLNG – a joint venture between Australia's Origin Energy, US giant ConocoPhillips and China's Sinopec – said it was crucial a new market framework discouraged producers buying gas from the domestic market to ship overseas. 'All east coast LNG producers have a role to play to support the domestic market; however, east coast LNG producers alone cannot be the solution for the entire projected shortfall in southern gas supply,' according to the APLNG submission, seen by this masthead. Loading 'Without fundamental reform that delivers equitable domestic supply obligations across all east coast LNG producers, the existing instruments will continue to make projected future shortfalls worse by discouraging investment. A reformed policy framework must address LNG producer purchases from the domestic market for export. They should have to equitably contribute gas for Australian jobs and power generation.' While most of Queensland's gas is locked into long-term export deals and sold as LNG to buyers in Asia, APNG and the Shell-backed QCLNG joint venture are also key suppliers of east coast domestic gas, together accounting for about 40 per cent of the market. The state's third LNG exporter, the Santos-backed GLNG business, however, is a net withdrawer of domestic gas to meet its export commitments.
Reuters
5 days ago
- Business
- Reuters
Australia's Origin Energy posts 26% rise in annual profit
Aug 14 (Reuters) - Australia's Origin Energy ( opens new tab reported a 26% rise in its full-year underlying profit on Thursday, helped by lower income tax expense as dividends from Australia Pacific LNG switched from partially to fully franked. The country's second-largest power producer posted underlying profit of A$1.49 billion ($974.76 million) for the twelve months ended June 30, beating Visible Alpha's consensus estimate of A$1.46 billion. Origin's annual profit came in at A$1.18 billion a year ago. ($1 = 1.5286 Australian dollars)
Bloomberg
23-05-2025
- Business
- Bloomberg
Australia Pacific LNG Cuts Price in Massive Sinopec Supply Deal
Australia Pacific LNG agreed to cut the price of liquefied natural gas sold under a major contract with China's Sinopec. The price review resulted in a reduction in the oil-linked contract slope from Jan. 1, 2025, Origin Energy Ltd. — which holds a 27.5% stake in the export project, said Friday. The Sydney-based company sees a reduction in its underlying earnings from the Australia Pacific LNG plant of A$55 million ($35 million) in the six months through June 2025.
AU Financial Review
30-04-2025
- Business
- AU Financial Review
Origin's LNG revenues slump as prices, production fall
Origin Energy says revenues from the Australia Pacific LNG operations in Queensland fell more than 10 per cent in the first three months of the year as the price of gas fell and production was disrupted. APLNG is part-owned by Origin, alongside American giant ConocoPhillips and China's Sinopec. Origin said the business had paid it a $185 million dividend in March, taking the full-year proceeds from Australia Pacific LNG to $797 million.
