LNG

July 15 (LNGJ) - TotalEnergies has issued a series of hints about its forthcoming second-quarter earnings statement. “Performance of the gas, LNG and power trading activities is expected to remain high, but without replicating the exceptional contribution of the first quarter of 2022,” said the Paris-based company in a message to the stock exchange.

   The company said its average realised LNG price in the second quarter was $13.96 per million British thermal units compared with $13.60 per MMBtu in the first three months of 2022 and $6.99 per MMBtu in the second quarter of 2021. “Upstream production is expected to be lower than in the first quarter, mainly due to disruptions in Nigeria and Libya for security reasons, as well as a higher volume of planned maintenance,” added TotalEnergies.

TotalEnergies, the French major with global LNG stakes, booked an impairment of over $4 billion in its earnings because of the negative impacts of involvement in Russian LNG and particularly the Arctic LNG II project on the Gydan Peninsula.