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.