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.

Most Popular

Worley gets full notice to proceed on first phase of CP2 LNG project

Australian engineering firm Worley has received a full notice to proceed from US LNG exporter Venture Global LNG under its reimbursable EPC contract for the first phase of the CP2 LNG project in Louisiana.

Baker Hughes to buy Chart in $13.6 billion deal

US energy services firm Baker Hughes has entered into a definitive deal to buy compatriot LNG equipment maker Chart Industries. The transaction is worth $13.6 billion.

Knutsen takes delivery of QatarEnergy LNG carrier

Norwegian shipowner Knutsen has taken delivery of another 174,000-cbm liquefied natural gas (LNG) carrier built as part of the massive QatarEnergy shipbuilding program.

More News Like This

TotalEnergies working on Mozambique LNG restart, CEO says

France's TotalEnergies and its partners in the giant Mozambique LNG project are still working with the Mozambique government on restarting construction on the 12.8 mtpa project, according to Patrick Pouyanne, CEO of TotalEnergies.

TotalEnergies reports higher LNG sales, lower earnings

French energy giant TotalEnergies reported higher LNG sales in the second quarter of this year, while its integrated LNG business logged lower adjusted net operating income due to lower prices.

TotalEnergies, CMA CGM to launch LNG bunkering JV

French energy giant TotalEnergies and compatriot shipping firm CMA CGM have signed a deal to develop a 50/50 logistics joint venture dedicated to the implementation and operation of an LNG bunkering supply solution at the Dutch port of Rotterdam.

Cameron LNG hits new milestone

Sempra Infrastructure, a unit of Sempra, and its partners have shipped the 1,000th cargo of liquefied natural gas from the Cameron LNG export plant in Louisiana since 2019.