OREANDA-NEWS. Australian upstream firm and utility Origin Energy sees no impact on spot prices in Asia-Pacific from increased US LNG flows with the widening of the Panama Canal or on the profitability of its 9mn t/yr Australia Pacific LNG (APLNG) venture.

"The impact of LNG coming from the US Gulf of Mexico is unlikely to substantially alter the margin above our cost of production for APLNG," Origin Energy chief executive Grant King said after the firm released its result for the 2015-16 fiscal year ending 30 June.

The Panama Canal Authority inaugurated a third set of locks on 26 June, allowing larger vessels, including LNG carriers, to use the Atlantic-Pacific route for the first time. A third LNG cargo had passed through the recently expanded canal on 3 August.

Origin has a 37.5pc interest in APLNG, which started shipments from its first production train in January. It expects shipments to start from its second train by the end of this year.