Soaring gas prices driven by the war in Ukraine have doubled revenue at the biggest gas export terminal on the east coast, delivering a bumper $1.59bn dividend to part-owner Origin Energy and sparking renewed calls for a windfall profit tax.
Revenue at Australia Pacific LNG – a gas pipeline leading to a terminal near Gladstone in Queensland that services both the domestic and export markets – rose from $4.55bn in 2020-21 to $9.26bn in 2021-22, Origin said in a quarterly update released on Friday.
