TotalEnergies: average LNG price jumps in Q3

France-based TotalEnergies, one of the world’s largest LNG players, reported a jump in its average price for equity liquefied natural gas sales in the third quarter.

TotalEnergies said on Friday the average LNG price had reached $21.51/MMBtu in the July-September period, logging a significant rise when compared to the previous three-month period but also year-on-year.

The price rose about $7.55/MMBtu compared with the previous quarter, while it more than doubled when compared to $9.10/MMBtu in the same period in 2021.

LNG volumes for the third quarter are not available yet as the Paris-based firm will release its quarterly results on October 27.

“LNG assets performance is expected to increase strongly as a result of higher average LNG price, up 50 percent,” TotalEnergies said.

“Performance of the gas, LNG, and power trading activities is expected to remain high, our integrated portfolio enabling to capture opportunities in a volatile and dislocated environment,” the firm said.

The company’s integrated gas, renewables, and power segment reported adjusted net operating income of $2.55 billion in the second quarter, nearly triple year-on-year due to higher LNG prices.

Also, TotalEnergies’ LNG sales increased 11 percent to 11.7 million tonnes in the second quarter when compared to the same period last year. Sales dropped from 13.3 million tonnes in the prior quarter.

- 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...

Canada’s FortisBC, Seaspan win provincial approval for Tilbury LNG jetty

Canadian utility and operator of the Tilbury LNG facility in the province of British Columbia, FortisBC, and its partner...

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...