July 27 (LNGJ) - TotalEnergies reported a 27 percent drop in net income for the second quarter to $4 billion and cash flow from operations dropped 39 percent to $9.9Bln as it completed major deals during the three months in oil, integrated power and LNG. The LNG transaction related to the French major’s investment in the US development company NextDecade Corp. and its Rio Grande project in Texas.
“The Integrated LNG segment posted cash flow of $1.8 billion, benefiting from the high margins captured in 2022,” said TotalEnergies Chief Executive Patrick Pouyanné. “Adjusted net operating income was $1.3Bln, reflecting lower LNG prices, averaging $10 per million British thermal units, and softer trading results in less volatile markets,” the CEO added.
