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.

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