Total’s average Q4 LNG price climbs

France-based Total said its average price for equity LNG sales in the fourth quarter reached $4.90/MMBtu, logging a rise when compared to the previous three-month period.

However, despite rising about $1.33/MMBtu compared with the previous quarter, the fourth-quarter sales price slid nearly 25 percent when compared to the same period in 2019.

Total previously reported an average LNG sales price of $6.52/MMBtu for the October-December period in 2019.

To remind, Total said in its quarterly report the firm expected the rise in oil prices in the second and the third quarter would have a positive impact on its LNG prices.

On the other side, Total’s LNG sales increased to 8.1 million tonnes compared to 7.5 million tonnes in the third quarter last year.

In the January-September period, Total sold 28.3 million tonnes of LNG, a rise of 19 percent year-on-year.

Total attributed the rise to higher trading activities but also due to ramp-up of Novatek’s Yamal LNG project in Russia and the Inpex-operated Ichthys development in Australia.

Additionally, the rise in LNG sales was due to the start-up of first two trains at Sempra’s Cameron LNG plant in the US.

The Paris-based energy giant is currently the world’s second-largest private LNG operator, behind Shell.

- Advertisements -

Most Popular

EIG hires Shell’s Venter as CEO of its LNG unit

US-based energy investor EIG said it has named Shell's De la Rey Venter as chief executive officer of its...

Tellurian: early works progress at Driftwood LNG site

US LNG firm Tellurian and compatriot engineer Bechtel are moving forward with early site works for the Driftwood LNG...

Czech firm books capacity at Dutch Eemshaven LNG import hub

The Czech Republic, in cooperation with CEZ Group, has booked regasification capacity at Gasunie's LNG import hub in Eemshaven,...

More News Like This

Kogas, TotalEnergies strenghten LNG ties

South Korean LNG importing giant Kogas said it has signed a deal with France's TotalEnergies to boost liquefied natural...

TotalEnergies takes stake in giant Qatari LNG expansion project

France's TotalEnergies said it had secured a stake in QatarEnergy's giant LNG expansion project which will boost Qatar's LNG...

TotalEnergies inks long-term LNG supply deal with South Korea’s Hanwha Energy

France’s TotalEnergies said it has signed a long-term deal to supply liquefied natural gas (LNG) to South Korea's Hanwha...

TotalEnergies’ Q1 profit, LNG sales up

France’s TotalEnergies said Thursday its first-quarter earnings rose on the back of higher oil and gas prices, while the...