CorporateEurope

Total’s Q1 LNG sales rise

By Mirza Duran
Total's Q1 LNG sales rise
Yamal LNG project in Russia

French energy giant Total logged a 27 percent year-on-year increase in its first-quarter liquefied natural gas sales.

Total’s LNG sales volumes reached 9.8 million tonnes in the first quarter, compared to 7.7 million tonnes in the January-March period last year.

Total sold 10.6 million tonnes of chilled fuel in the fourth quarter.

The energy company said in its quarterly financial report that LNG sales rose year-on-year due to production ramp-up at several LNG export projects where Total is a shareholder.

This is related to Novatek’s Yamal LNG plant in Russia and the Inpex -operated Ichthys project in Australia, as well as the start-up of the first two Sempra’s Cameron LNG trains in the US.

Total said its average prices of LNG stood at $6.32 per million British thermal units during the quarter, down 12 percent compared to the same period last year.

Total’ average LNG price in the fourth quarter was at $7.20 per mmBtu.

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