UPDATE 1-Australia's Origin APLNG revenue jumps 7% sequentially on upbeat volumes, prices

Reuters04-30

(Adds details on results in paragraph 2-5)

April 30 (Reuters) - Australia's Origin Energy reported a 7% sequential increase in third-quarter revenue from its stake in the Australia Pacific LNG (APLNG) project on Tuesday, supported by higher volumes and higher average realised LNG prices.

The power retailer said its share of revenue from APLNG, a joint venture with ConocoPhillips and Sinopec

, rose to A$633 million ($415.44 million) in the three months to March 31, from A$591 million in the previous quarter.

Revenue was also boosted by a 15% quarter-on-quarter jump in its share of the production at the Queensland project to 36.8 petajoules (PJ).

The average realised price for LNG in the March quarter was $12.17 per metric million British thermal units (mmBtu), higher than $11.88 per mmBtu in the December quarter.

Liquefied natural gas $(LNG)$ recovered during the quarter from lows hit previously due to tepid demand in Asia and Europe and healthy inventories.

($1 = 1.5237 Australian dollars)

(Reporting by Poonam Behura and Sneha Kumar in Bengaluru; Editing by Tasim Zahid)

((Sneha.kumar@thomsonreuters.com))

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