TotalEnergies: average LNG price down in Q4

TotalEnergies said on Tuesday in its trading statement that the average LNG price was $8.48/MMBtu in the three-month period, down by $1.89/MMBtu compared to $10.37/MMBtu in the fourth quarter of 2024.

Additionally, the average price decreased from $8.91/MMBtu in the third quarter, $9.10/MMBtu in the second quarter, and $10/MMBtu in the first quarter of last year.

In its October 2025 results report, TotalEnergies said it anticipates an average LNG selling price of $8.5/MMBtu for the fourth quarter of 2025.

According to the statement on Tuesday, integrated LNG is expected to deliver a result and cash flow “in line” with the third quarter of 2025.

This is supported by “higher LNG production (end of turnaround at Ichthys LNG) and sales offsetting a 5 percent decrease in the average LNG price,” TotalEnergies said.

The firm expects oil and gas production for the fourth quarter to be “at nearly 5 percent year‑on‑year, leading to close to 4 percent growth for the full year 2025, exceeding the guidance of more than 3 percent.”

“Once again, despite a year‑on‑year decline of more than $10/b in oil prices, the cash flow from business segments this quarter is expected to remain at the same level as last year, supported by accretive upstream production growth and continued improvement of downstream results in the fourth quarter,” TotalEnergies said.

“Exploration and production results are expected to reflect the decrease in the average liquids and gas sales prices quarter to quarter, in line with published sensitivities. Year‑on‑year, exploration and production cash flow benefits from accretive production growth, limiting the impact of the decrease to around $6/b out of the $11/b drop,” the company said.

TotalEnergies plans to release its quarterly results on February 11.