TotalEnergies says average Q2 LNG price up

TotalEnergies said its average price for equity LNG sales in the second quarter has reached $6.59/MMBtu, logging a rise when compared to the previous three-month period but also year-on-year.

The price rose about $0.51/MMBtu compared with the previous quarter, while it surged 50 percent when compared to the same period in 2020.

TotalEnergies reported an average LNG sales price of $4.40/MMBtu for the April-June period in 2020.

LNG volumes for the second quarter are not available yet as the Paris-based firm will release its quarterly results on July 29.

To remind, the company’s January-March LNG sales increased 1 percent to 9.9 million tonnes when compared to the same period in 2020 but they were slightly down from 10 million tonnes in the fourth quarter.

The firm said sales rose despite a 6 percent decrease in hydrocarbon production for LNG. The shutdown of Equinor’s Hammerfest LNG plant in Norway affected the production, according to Total.

TotalEnergies is currently the world’s second-largest private LNG operator, behind Shell. The firm plans to have a global portfolio of nearly 50 Mtpa by 2025 and a global market share of around 10 percent.

Most Popular

MAN will no longer offer ME-GA engine

Volkswagen’s MAN unveiled the ME-GA dual-fuel engine in March 2021, describing it as an Otto-cycle variant of the company’s...

Kumul awards pre-FEED contract to Wison for Papua New Guinea’s first FLNG

The two firms signed the contract on Friday. With an expected capacity of 1.5 mtpa, Papua New Guinea’s first FLNG...

Atlantic LNG shipping rates dip to $26,750 per day

Last week, Atlantic LNG shipping rates dropped below $50,000 per day. “Spark30S Atlantic rates dropped for a fourth consecutive week,...

More News Like This

TotalEnergies expects Q3 LNG results to be above $1 billion

"Integrated LNG results are expected to be above $1 billion, in a context of low market volatility and a...

TotalEnergies confirms Ibaizabal charter deal for LNG bunkering newbuild

TotalEnergies announced the contract in a statement on Thursday. China's Hudong–Zhonghua will build the new vessel and deliver it by the...

Adani, TotalEnergies launch LNG station in India

Adani Total Gas (ATGL), a JV between the two firms, announced the launch of the first LNG station in...

TotalEnergies to supply two more LNG cargoes to Bulgargaz

Bulgargaz recently launched three tenders for the delivery of five cargoes during the upcoming autumn-winter season. The company previously awarded the October...