TotalEnergies: average Q2 LNG price climbs

French energy giant TotalEnergies reported a rise in its average price for equity liquefied natural gas (LNG) sales in the second quarter.

TotalEnergies said on Friday the average LNG price reached $13.96/MMBtu in the April-June period, logging a rise when compared to the previous three-month period but also year-on-year.

The price rose about $0.36/MMBtu compared with the previous quarter, while it surged 111.8 percent when compared to the same period in 2021.

TotalEnergies reported an average LNG sales price of $6.59/MMBtu for the second quarter in 2021.

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

“Performance of the gas, LNG and power trading activities is expected to remain high, but without replicating the exceptional contribution of the first quarter of 2022,” TotalEnergies said.

The company’s integrated gas, renewables and power segment reported adjusted net operating income of $3.1 billion in the first quarter, up 11 percent over the previous quarter, and cash flow of $2.6 billion in the first quarter of 2022.

Also, TotalEnergies’ LNG sales increased 34 percent to 13.3 million tonnes in the first quarter when compared to the same period last year. Sales also rose from 11.6 million tonnes in the fourth quarter.

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