TotalEnergies says average Q2 LNG price up

TotalEnergies said its average price for equity LNG sales in the second quarter has reached $6.59/MMBtu, logging a rise when compared to the previous three-month period but also year-on-year.

The price rose about $0.51/MMBtu compared with the previous quarter, while it surged 50 percent when compared to the same period in 2020.

TotalEnergies reported an average LNG sales price of $4.40/MMBtu for the April-June period in 2020.

LNG volumes for the second quarter are not available yet as the Paris-based firm will release its quarterly results on July 29.

To remind, the company’s January-May LNG sales increased 1 percent to 9.9 million tonnes when compared to the same period in 2020 but they were slightly down from 10 million tonnes in the fourth quarter.

The firm said sales rose despite a 6 percent decrease in hydrocarbon production for LNG. The shutdown of Equinor’s Hammerfest LNG plant in Norway affected the production, according to Total.

TotalEnergies is currently the world’s second-largest private LNG operator, behind Shell. The firm plans to have a global portfolio of nearly 50 Mtpa by 2025 and a global market share of around 10 percent.

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