Photo: Yamal LNG project in Russia (Image courtesy of Novatek)

Total boosts Q1 LNG sales

French energy giant Total logged a 27 per cent year-on-year rise in first-quarter liquefied natural gas sales.

Yamal LNG project in Russia
Yamal LNG project in Russia (Image courtesy of Novatek)

Total’s LNG sales volumes reached 9.8 million tonnes in the first quarter, compared to 7.7 million tonnes in the January-March period last year.

Total sold 10.6 million tonnes of chilled fuel in the fourth quarter.

The energy company said in its quarterly financial report that LNG sales rose year-on-year due to production ramp-up at several LNG export projects where Total is a shareholder.

This is related to Novatek’s Yamal LNG plant in Russia and the Inpex -operated Ichthys project in Australia, as well as the start-up of the first two Sempra’s Cameron LNG trains in the US.

Total said its average prices of LNG stood at $6.32 per million British thermal units during the quarter, down 12 per cent compared to the same period last year.

Total’ average LNG price in the fourth quarter was at $7.20 per mmBtu.

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