Total’s average Q1 LNG price up on quarter but down year-on-year

Total said its average price for equity LNG sales in the first quarter reached $6.08/MMBtu, logging a rise when compared to the previous three-month period but still down year-on-year.

The price rose about $1.18/MMBtu compared with the previous quarter, while it dropped some 3.8 percent when compared to the same period in 2020.

Total previously reported an average LNG sales price of $6.32/MMBtu for the January-March period in 2020.

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

To remind, the company’s 2020 LNG sales increased 12 percent to 38.3 million tonnes.

The energy giant attributed the rise to the start-up of three trains at Cameron LNG in the US, the ramp-up of Yamal LNG in Russia, and Ichthys LNG in Australia but also an increase in trading activities.

Total 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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