TotalEnergies says average Q3 LNG price jumps

TotalEnergies said its average price for equity LNG sales in the third quarter has reached $9.10/MMBtu, logging a rise when compared to the previous three-month period but also year-on-year.

The price rose about $2.51/MMBtu compared with the previous quarter, while it surged 154 percent when compared to the same period in 2020.

TotalEnergies reported an average LNG sales price of $3.57/MMBtu for the July-September period in 2020.

LNG volumes for the third quarter are not available yet as the Paris-based firm will release its quarterly results on October 28.

The company’s LNG sales in the second quarter increased 1 percent to 10.5 million tonnes when compared to the same period last year and they also increased from 9.9 million tonnes in the first quarter.

TotalEnergies recently said it plans to increase its production by 30 percent before 2030, with half of this growth coming mainly from renewables-powered electricity and half from LNG.

In an LNG market growing on average 5-7 percent per year at a global scale, TotalEnergies’ LNG production would increase by 30 percent by 2025 and sales would reach 50 Mt/y, equivalent to 10 percent of the world market at that time, the firm said.

- Advertisements -

Most Popular

QatarEnergy picks shipowners for 18 giant LNG carriers

LNG giant QatarEnergy has selected shipowners to own and operate 18 Q-Max LNG carriers as part of its massive...

VTTI, IKAV to take majority stake in Italy’s Adriatic LNG terminal

Rotterdam-based storage terminal owner VTTI, co-owned by Vitol, IFM, and Adnoc, joined forces with German asset manager IKAV to...

Deutsche ReGas: Mukran FSRU welcomes first LNG tanker

LNG terminal operator Deutsche ReGas has received the first LNG tanker at its FSRU-based LNG import facility in Germany’s...

More News Like This

NextDecade expects FID on fourth Rio Grande LNG train in H2 2024

US LNG firm NextDecade still expects to take a final investment decision to build the fourth liquefaction train at...

Vitol’s unit ViGo acquires PitPoint.LNG

Vitol’s subsidiary ViGo Bioenergy has acquired PitPoint.LNG, the Dutch joint venture between TotalEnergies and SHV Energy. Oaklins, who acted as...

TotalEnergies seals 16-year LNG supply deal with Singapore’s Sembcorp

French energy giant TotalEnergies has signed a 16-year liquefied natural gas (LNG) supply deal with Singapore's Sembcorp Industries. TotalEnergies Gas...

Update: Greece’s Alexandroupolis FSRU to receive first LNG cargo on Friday

Gastrade's FSRU-based LNG import terminal off Greece's Alexandroupolis will receive its first cargo of liquefied natural gas on Friday. "GasLog...