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Total’s average Q4 LNG price climbs

By LNG Prime Staff
Total's average Q4 LNG price climbs
The 174,000-cbm Qogir, chartered by Total (Image: TMS Cardiff Gas)

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.

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