Total Sees LNG Prices Slide in Q1
France's Total, the world's biggest privately-held LNG player after Anglo-Dutch major Shell, saw the average price of its LNG fall 12.2% year on year (yr/yr) in the first quarter to $6.32/mn Btu. Quarter on quarter (q/q), the price was down 3%, it said in a London stock exchange filing.
The major's average gas sales price was $3.35/mn Btu, down 25.7% yr/yr and 10.9% q/q. Its oil went for $50.1/b, marking 26% decline both yr/yr and q/q.
The average LNG price is a new indicator for Total's equity LNG, joining its other indicators for Brent crude, natural gas, liquids and refining margins.