Origin Energy has overcome the many challenges that 2020 has presented to deliver greater efficiencies at the Australia Pacific liquified natural gas (LNG) project in Queensland.
At the company’s annual general meeting, Origin’s leaders highlighted that strong performance had delivered record production at Australia Pacific LNG, which combined with efficient improvements, contributed to record cash distributions of $1.3 billion.
Looking ahead, Origin expects Australia Pacific LNG to produce 650-680 petajoules during the 2021 financial year.
Origin chief executive officer and managing director Frank Calabria said the company also resumed exploration in the Northern Territory, with fracture stimulation now completed, allowing it to extend production testing.
Chairman Gordon Cairns added that the traditional owners at its Beetaloo operations in the Northern Territory had agreed to support Origin’s work.
“We work with the Northern Land Council to engage with the traditional owners who are the native title holders for the areas where our activities are proposed. We have had on-country meetings with them this year, as well as on site following the resumption of exploration, and they have been working with us on sacred site surveys and other clearances,” Cairns said.
Calabria said the company would use its strengths in unconventional gas development so it could help meet the market’s needs for cleaner, affordable natural gas through the energy transition.
“This expertise is also advantageous as we progress our future fuels strategy, in particular focusing on opportunities in green hydrogen,” Calabria said.
“Today, we have reaffirmed all financial year 2021 guidance and note the considerable uncertainty created by the ongoing impacts of COVID-19, which has contributed to a more challenging outlook for the year.”