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Business / Queensland gas
Australia Pacific LNG, or APLNG, produces gas in Queensland and cools it into liquid for transport overseas. It also sells gas domestically. Its accounts let us follow customers’ money into operating costs, investment, tax, debt and shareholder returns.
Three immediate shareholders own APLNG. Ownership, operating responsibility and purchasing gas are separate relationships.
These are immediate corporate interests, not a map of every ultimate investor. Origin reports that operating, management and funding decisions require unanimous support from the foundation shareholders, including Origin and ConocoPhillips.
The tax report identifies the corporate interests. A related-party purchaser and loans from Chinese state-owned commercial banks illustrate why customer, owner and lender must be kept separate. They do not identify every cargo’s final destination.
APLNG tax report, pages 3–4 and 7; Origin FY2026 report, printed pages 43 and 106.
Open original sourceFinancial year ended 30 June 2026, whole APLNG business. Volumes use petajoules (PJ), a measure of energy.
Sales are 656 PJ in total. Production, purchased gas, inventory changes and liquefaction adjustments have separate lines. Reported revenue and cash collected differ because recognition and payment occur at different times.
Origin FY2026, printed pages 44 and 106 (PDF pages 46 and 108).
Open original sourceSelect a reported year to see the money received, paid and retained. These are published accounts, with no adjustable assumptions.
Showing the whole APLNG business for the year ended 30 June 2026. Australian dollars.
The payment rows are not slices of this total. Opening cash, borrowing and other movements also fund the business.
Court proceeds have an offsetting liability while the judgment is under appeal.
Net movement before exchange effects: −$1.468b. Exchange effects: −$0.072b. These reconcile to closing cash.
All figures cover 100% of APLNG, not Origin’s 27.5% share. Royalty cash is not separately itemised in this cash statement; it must not be added again as a separate outflow. The full research retains the tax-report crosswalk and differences between preliminary and final figures.
Origin FY2026 report, printed page 108 / PDF page 110, including FY2025 comparatives.
Open original sourceOwnership is only one way money enters a business. Lenders provide capital in exchange for repayment and interest.
Outstanding principal at 30 June 2026. Together US$3,057m before debt fees. This foreign public lending is a loan to a business, not a grant into Australia’s budget. Not every bank or ultimate noteholder is identified.
The commercial bank tranche was refinanced in March 2026. New borrowing and repayment can therefore occur in the same year without an equivalent change funded by gas sales.
Origin FY2026, printed pages 33 and 45.
Open original sourceCash recipients answer part of that question. Public benefit also depends on work, domestic supply, services, environmental effects and future obligations.
Customer receipts fund operations and financing. Suppliers and employees are paid. Income tax reaches public finances. Shareholders receive dividends. Origin and ConocoPhillips have distinct operating roles.
See where public receipts fitThe combined supplier-and-employee line is not a wage bill. These records do not identify every ultimate beneficiary, all public support, or the full future cleanup cost. Dividends and tax cannot settle an overall public-value verdict.
Inspect environmental obligations and evidence gaps