TotalEnergies says average Q4 LNG price surges

France’s energy giant TotalEnergies reported a jump in its average price for equity liquefied natural gas (LNG) sales in the fourth quarter.

TotalEnergies said on Monday the average LNG price hit $13.12/MMBtu in the October-December period, logging a rise when compared to the previous three-month period but also year-on-year.

The price rose about $4.02/MMBtu compared with the previous quarter, while it surged 167.7 percent when compared to the same period in 2020.

TotalEnergies reported an average LNG sales price of $4.90/MMBtu for the fourth quarter in 2020.

LNG volumes for the fourth quarter are not available yet as the Paris-based firm will release its quarterly results in February.

TotalEnergies expects “significantly higher” results from its gas and LNG trading activities in the fourth quarter, “capturing optimization opportunities generated by large LNG trading portfolio in the prevailing high gas spot price environment.”

The company’s LNG sales in the third quarter increased 24 percent to 10 million tonnes when compared to the same period last year but they dropped from 10.5 million tonnes in the second quarter.

Also, TotalEnergies’ LNG sales increased 7 percent in the January-September period to 30.4 million tonnes.

- Advertisements -

Most Popular

Venture Global takes FID on second Plaquemines LNG phase

US firm Venture Global LNG has taken a final investment decision for the second phase of its Plaquemines LNG...

China’s COOEC wraps up LNG Canada module job

China Offshore Oil Engineering (COOEC), a unit of CNOOC, has delivered the last two modules it built for the...

India’s Swan Energy waiting on bank approval to finalize Turkish FSRU charter deal

India's Swan Energy is waiting for approval from a consortium of banks to finalize its FSRU charter deal with...

More News Like This

GSI delivers two LNG-powered tankers

China’s Guangzhou Shipyard International (GSI) has delivered LNG-powered tankers to a joint venture of Singapore’s Hafnia and CSSC Shipping,...

TotalEnergies, ExxonMobil, Santos launch Papua LNG FEED

Operator TotalEnergies and its partners ExxonMobil and Santos have launched fully-integrated front-end engineering and design (FEED) for the Papua...

TotalEnergies buys Polish biogas producer

France's TotalEnergies, one of the world's largest LNG players, said it had acquired Poland’s main biogas producer, Polska Grupa...

Saipem expects to resume Mozambique LNG work in July, CEO says

Italian contractor Saipem is expecting to restart work on the TotalEnergies-led Mozambique LNG project in July this year, according...